Adell Harriman & Carpenter Inc. decreased its holdings in shares of Boeing Co (NYSE:BA) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,178 shares of the aircraft producer’s stock after selling 400 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Boeing were worth $1,316,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Riverpoint Wealth Management Holdings LLC increased its stake in shares of Boeing by 0.3% in the second quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after purchasing an additional 4 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Boeing by 0.3% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock valued at $421,000 after purchasing an additional 6 shares during the period. Accredited Investors Inc. increased its stake in shares of Boeing by 0.4% in the second quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock valued at $325,000 after purchasing an additional 6 shares during the period. Silicon Valley Capital Partners increased its stake in shares of Boeing by 0.7% in the second quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock valued at $245,000 after purchasing an additional 9 shares during the period. Finally, Arete Wealth Advisors LLC increased its stake in shares of Boeing by 0.4% in the second quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after purchasing an additional 9 shares during the period. Hedge funds and other institutional investors own 70.45% of the company’s stock.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is owned by corporate insiders.
Boeing Co (NYSE:BA) traded up $1.69 during trading on Wednesday, reaching $344.85. 4,337,315 shares of the company were exchanged, compared to its average volume of 6,530,000. Boeing Co has a 1 year low of $167.22 and a 1 year high of $361.45. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. The firm has a market cap of $205,390.00, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $24.78 billion. During the same quarter last year, the business posted $2.47 EPS. The company’s revenue was up 8.9% on a year-over-year basis. equities analysts expect that Boeing Co will post 14.03 earnings per share for the current year.
Boeing announced that its board has initiated a share repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced 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 is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 1.98%. Boeing’s dividend payout ratio is presently 58.31%.
Several equities research analysts have commented on BA shares. Buckingham Research restated a “hold” rating and issued a $203.00 price target on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group restated a “buy” rating and issued a $339.00 price target on shares of Boeing in a research note on Monday, January 8th. Credit Suisse Group restated an “outperform” rating and issued a $375.00 price target (up previously from $310.00) on shares of Boeing in a research note on Friday, January 12th. They noted that the move was a valuation call. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Goldman Sachs Group set a $293.00 price objective on shares of Boeing and gave the company a “neutral” rating in a report on Wednesday, January 31st. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Boeing presently has a consensus rating of “Buy” and a consensus target price of $353.24.
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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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