Sumitomo Life Insurance Co. lessened its stake in Boeing Co (NYSE:BA) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,382 shares of the aircraft producer’s stock after selling 372 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Boeing were worth $5,181,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in Boeing during the second quarter valued at $4,904,000. Allegis Investment Advisors LLC purchased a new stake in Boeing during the second quarter valued at $351,000. Blair William & Co. IL raised its stake in Boeing by 4.1% during the second quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after purchasing an additional 6,141 shares in the last quarter. Alps Advisors Inc. raised its stake in Boeing by 46.4% during the second quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after purchasing an additional 1,532 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in Boeing by 23.2% during the second quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after purchasing an additional 112,520 shares in the last quarter. 70.84% of the stock is currently owned by hedge funds and other institutional investors.
Boeing Co (NYSE:BA) traded up $7.86 during midday trading on Thursday, hitting $328.12. 4,626,000 shares of the stock were exchanged, compared to its average volume of 3,750,000. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54. The company has a market capitalization of $195,420.00, a PE ratio of 30.19, a PEG ratio of 2.16 and a beta of 1.23. Boeing Co has a 12-month low of $156.67 and a 12-month high of $328.40.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.07. The firm had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.51 earnings per share. research analysts forecast that Boeing Co will post 10.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.08%. Boeing’s dividend payout ratio is presently 52.25%.
Boeing declared that its board has approved a share buyback program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have recently weighed in on BA shares. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $288.75 target price on the stock in a research note on Monday, December 11th. Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Cowen reissued a “buy” rating and issued a $315.00 target price on shares of Boeing in a research note on Thursday, October 26th. Buckingham Research reissued a “hold” rating and issued a $203.00 target price on shares of Boeing in a research note on Friday, December 22nd. Finally, Nord/LB set a $250.00 target price on shares of Boeing and gave the company a “neutral” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $277.79.
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The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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