Becker Capital Management Inc. boosted its position in Boeing Co (NYSE:BA) by 47.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,757 shares of the aircraft producer’s stock after purchasing an additional 2,160 shares during the period. Becker Capital Management Inc.’s holdings in Boeing were worth $1,718,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Clear Perspective Advisors LLC lifted its stake in shares of Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after buying an additional 135 shares in the last quarter. Vantage Investment Advisors LLC lifted its stake in Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after purchasing an additional 84 shares in the last quarter. CWH Capital Management Inc. purchased a new stake in Boeing in the 2nd quarter worth approximately $134,000. Catamount Wealth Management purchased a new stake in Boeing in the 2nd quarter worth approximately $138,000. Finally, Herndon Capital Management LLC lifted its stake in Boeing by 29.7% in the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after purchasing an additional 165 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.
Shares of Boeing Co (BA) traded down $8.03 during mid-day trading on Friday, hitting $348.91. 5,375,809 shares of the stock were exchanged, compared to its average volume of 5,130,000. Boeing Co has a 52-week low of $162.31 and a 52-week high of $361.45. The company has a market capitalization of $207,800.00, a price-to-earnings ratio of 25.92, a PEG ratio of 1.91 and a beta of 1.44. 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 announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.47 earnings per share. sell-side analysts forecast that Boeing Co will post 14 EPS for the current year.
Boeing declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.96%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s payout ratio is 42.20%.
A number of equities analysts have recently commented on the stock. Buckingham Research reissued a “hold” rating and issued a $203.00 price target on shares of Boeing in a report on Friday, December 22nd. Jefferies Group reissued a “buy” rating and issued a $339.00 price target on shares of Boeing in a report on Monday, January 8th. Credit Suisse Group reaffirmed an “outperform” rating and set a $375.00 target price (up previously from $310.00) on shares of Boeing in a report on Friday, January 12th. They noted that the move was a valuation call. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday. Finally, Nord/LB set a $250.00 target price on shares of Boeing and gave the company a “neutral” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Boeing currently has a consensus rating of “Buy” and an average price target of $344.94.
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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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