Blue Granite Capital LLC decreased its position in Boeing Co (NYSE:BA) by 42.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,455 shares of the aircraft producer’s stock after selling 7,830 shares during the period. Boeing accounts for 1.8% of Blue Granite Capital LLC’s portfolio, making the stock its 12th largest position. Blue Granite Capital LLC’s holdings in Boeing were worth $2,657,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Clear Perspective Advisors LLC grew its holdings 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 buying an additional 135 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings 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 buying an additional 84 shares in the last quarter. CWH Capital Management Inc. bought a new position in shares of Boeing during the second quarter worth about $134,000. Catamount Wealth Management bought a new position in shares of Boeing during the second quarter worth about $138,000. Finally, Herndon Capital Management LLC grew its holdings in shares of Boeing by 29.7% during the second quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.
A number of research analysts have weighed in on the company. Canaccord Genuity raised their price target on Boeing from $290.00 to $345.00 and gave the company a “hold” rating in a research note on Thursday. Wells Fargo & Co reiterated a “market perform” rating and set a $365.00 target price (up from $330.00) on shares of Boeing in a research note on Thursday. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada set a $363.00 target price on Boeing and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Cowen reissued a “buy” rating and set a $415.00 price target on shares of Boeing in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $344.94.
Shares of Boeing Co (BA) traded down $8.03 during mid-day trading on Friday, reaching $348.91. The company had a trading volume of 5,485,371 shares, compared to its average volume of 5,030,000. The company has a market cap of $207,800.00, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.97 and a beta of 1.44. Boeing Co has a twelve month low of $160.82 and a twelve month high of $361.45. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.39.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The business’s revenue was up 8.9% on a year-over-year basis. sell-side analysts anticipate that Boeing Co will post 13.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is 42.20%.
Boeing declared that its Board of Directors has initiated a share repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/02/blue-granite-capital-llc-sells-7830-shares-of-boeing-co-ba.html.
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.
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.