Trust Investment Advisors reduced its holdings in Boeing Co (NYSE:BA) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,850 shares of the aircraft producer’s stock after selling 600 shares during the quarter. Trust Investment Advisors’ holdings in Boeing were worth $979,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Riverpoint Wealth Management Holdings LLC grew its holdings in Boeing by 0.3% during the second quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock worth $293,000 after buying an additional 4 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Boeing by 0.3% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock worth $421,000 after buying an additional 6 shares in the last quarter. Accredited Investors Inc. grew its holdings in Boeing by 0.4% during the second quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock worth $325,000 after buying an additional 6 shares in the last quarter. Silicon Valley Capital Partners grew its holdings in Boeing by 0.7% during the second quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock worth $245,000 after buying an additional 9 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings in Boeing by 0.4% during the second quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock worth $475,000 after buying an additional 9 shares in the last quarter. Institutional investors and hedge funds own 70.45% of the company’s stock.
BA has been the subject of several recent research reports. Sanford C. Bernstein upped their price target on Boeing from $402.00 to $422.00 in a report on Friday, February 2nd. Argus reissued a “buy” rating and issued a $290.00 price objective (up previously from $270.00) on shares of Boeing in a research report on Friday, October 27th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $300.00 price objective on shares of Boeing in a research report on Thursday, October 26th. Cowen reissued a “buy” rating and issued a $315.00 price objective on shares of Boeing in a research report on Thursday, October 26th. Finally, Jefferies Group boosted their price objective on Boeing from $300.00 to $312.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Boeing has a consensus rating of “Buy” and an average price target of $353.24.
In other news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.
Shares of Boeing Co (NYSE:BA) traded up $1.69 during midday trading on Wednesday, reaching $344.85. The company’s stock had a trading volume of 4,339,291 shares, compared to its average volume of 6,530,000. The company has a market cap of $205,390.00, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.88 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 0.37. Boeing Co has a fifty-two week low of $167.22 and a fifty-two week high of $361.45.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $1.89. The business had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. sell-side analysts expect that Boeing Co will post 14.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. 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. This represents a $6.84 annualized dividend and a dividend yield of 1.98%. Boeing’s dividend payout ratio is 58.31%.
Boeing announced that its Board of Directors has authorized a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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