Old Mutual Global Investors UK Ltd. lifted its stake in Boeing Co (NYSE:BA) by 28,537.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 782,669 shares of the aircraft producer’s stock after purchasing an additional 779,936 shares during the quarter. Boeing accounts for approximately 2.1% of Old Mutual Global Investors UK Ltd.’s holdings, making the stock its 3rd biggest position. Old Mutual Global Investors UK Ltd. owned approximately 0.13% of Boeing worth $198,962,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of BA. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Boeing by 12.6% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,130 shares of the aircraft producer’s stock worth $1,792,000 after purchasing an additional 1,130 shares during the last quarter. Colony Group LLC raised its position in shares of Boeing by 0.4% in the 1st quarter. Colony Group LLC now owns 56,233 shares of the aircraft producer’s stock worth $9,945,000 after purchasing an additional 241 shares during the last quarter. IHT Wealth Management LLC increased its holdings in Boeing by 13.3% in the 1st quarter. IHT Wealth Management LLC now owns 1,986 shares of the aircraft producer’s stock worth $352,000 after buying an additional 233 shares in the last quarter. Chemung Canal Trust Co. increased its holdings in Boeing by 1.9% in the 1st quarter. Chemung Canal Trust Co. now owns 24,438 shares of the aircraft producer’s stock worth $4,323,000 after buying an additional 449 shares in the last quarter. Finally, Bath Savings Trust Co increased its holdings in Boeing by 100.9% in the 2nd quarter. Bath Savings Trust Co now owns 2,351 shares of the aircraft producer’s stock worth $465,000 after buying an additional 1,181 shares in the last quarter. 70.87% of the stock is owned by hedge funds and other institutional investors.
Boeing Co (NYSE:BA) opened at $335.16 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. Boeing Co has a twelve month low of $156.75 and a twelve month high of $347.73. The company has a market capitalization of $199,610.00, a P/E ratio of 30.83, a P/E/G ratio of 2.28 and a beta of 1.23.
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. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The company had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. During the same period in the previous year, the firm earned $3.51 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. analysts anticipate that Boeing Co will post 10.13 earnings per share for the current year.
Boeing declared that its board has approved a share buyback program on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors 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 yield of 2.04%. Boeing’s payout ratio is currently 52.25%.
Several equities research analysts recently commented on BA shares. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Wells Fargo & Co reiterated a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of Boeing in a report on Wednesday, September 20th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $303.00 price objective (up from $274.00) on shares of Boeing in a report on Wednesday, September 20th. They noted that the move was a valuation call. Jefferies Group lifted their price objective on Boeing from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, September 22nd. Finally, Cowen reiterated a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Boeing in a report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $298.63.
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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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