Dorsey Wright & Associates purchased a new position in shares of Boeing Co (NYSE:BA) in the third quarter, according to its most recent filing with the SEC. The firm purchased 9,970 shares of the aircraft producer’s stock, valued at approximately $2,534,000.
A number of other institutional investors have also modified their holdings of BA. LMR Partners LLP acquired a new stake in shares of Boeing in the 2nd quarter valued at about $4,904,000. Allegis Investment Advisors LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at about $351,000. Blair William & Co. IL grew its stake in shares of Boeing by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after buying an additional 6,141 shares during the period. Alps Advisors Inc. grew its stake in shares of Boeing by 46.4% in the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after buying an additional 1,532 shares during the period. Finally, State of Wisconsin Investment Board grew its stake in shares of Boeing by 23.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after buying an additional 112,520 shares during the period. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Boeing Co (NYSE BA) traded up $10.97 during trading on Monday, hitting $343.80. 6,881,557 shares of the company’s stock traded hands, compared to its average volume of 6,280,000. Boeing Co has a 1 year low of $164.47 and a 1 year high of $361.45. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. The company has a market cap of $204,760.00, a PE ratio of 25.54, a P/E/G ratio of 1.83 and a beta of 1.44.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter last year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. sell-side analysts expect that Boeing Co will post 14.01 EPS for the current fiscal year.
The business 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is 50.82%.
Boeing announced that its board has approved a share repurchase 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 buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
BA has been the subject of a number of analyst reports. Vetr upgraded Boeing from a “hold” rating to a “buy” rating and set a $343.92 price target for the company in a research note on Monday. Buckingham Research set a $289.00 price target on Boeing and gave the company a “hold” rating in a research note on Thursday. Berenberg Bank set a $415.00 price target on Boeing and gave the company a “buy” rating in a research note on Monday, February 5th. Jefferies Group lifted their price target on Boeing from $27.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Sanford C. Bernstein lifted their price target on Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $353.24.
In related news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.28% of the company’s stock.
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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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