Papp L Roy & Associates lowered its position in shares of Boeing Co (NYSE:BA) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,011 shares of the aircraft producer’s stock after selling 600 shares during the quarter. Papp L Roy & Associates’ holdings in Boeing were worth $1,020,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BA. Lipe & Dalton bought a new stake in shares of Boeing during the third quarter worth $100,000. Clear Perspective Advisors LLC grew its stake in shares of Boeing by 31.0% during the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares during the period. Vantage Investment Advisors LLC grew its stake in shares of Boeing by 11.1% during the second quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after purchasing an additional 84 shares during the period. CWH Capital Management Inc. acquired a new stake in shares of Boeing during the second quarter worth $134,000. Finally, Catamount Wealth Management acquired a new stake in shares of Boeing during the second quarter worth $138,000. Institutional investors own 70.87% of the company’s stock.
Boeing Co (NYSE BA) opened at $337.73 on Friday. Boeing Co has a 52 week low of $157.29 and a 52 week high of $352.23. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. The stock has a market capitalization of $202,591.98, a PE ratio of 31.04, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same period in the previous year, the firm earned $3.51 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. equities research analysts predict that Boeing Co will post 10.17 EPS for the current year.
Boeing declared that its board has initiated a share repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.03%. This is a boost from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is presently 52.21%.
A number of equities research analysts recently commented on BA shares. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective for the company in a research note on Tuesday, January 2nd. Robert W. Baird set a $433.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Canaccord Genuity lifted their price objective on Boeing from $245.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $253.54 price objective for the company. in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $304.10.
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Boeing Company Profile
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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