U S Global Investors Inc. trimmed its holdings in Boeing Co (NYSE:BA) by 23.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,868 shares of the aircraft producer’s stock after selling 4,286 shares during the quarter. Boeing makes up 1.0% of U S Global Investors Inc.’s investment portfolio, making the stock its 19th largest position. U S Global Investors Inc.’s holdings in Boeing were worth $3,525,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Lipe & Dalton acquired a new stake in shares of Boeing in the third quarter worth $100,000. Burt Wealth Advisors acquired a new stake in shares of Boeing in the third quarter worth $100,000. Clear Perspective Advisors LLC lifted its stake in shares of Boeing by 31.0% in 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 during the last quarter. Vantage Investment Advisors LLC lifted its stake in shares of Boeing by 11.1% in 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 during the last quarter. Finally, CWH Capital Management Inc. acquired a new stake in shares of Boeing in the second quarter worth $134,000. 70.88% of the stock is owned by institutional investors.
Boeing Co (BA) opened at $355.04 on Monday. Boeing Co has a one year low of $170.40 and a one year high of $361.45. The stock has a market cap of $208,937.59, a price-to-earnings ratio of 26.36, a PEG ratio of 1.84 and a beta of 1.44. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter in the prior year, the company posted $2.47 EPS. The business’s revenue was up 8.9% on a year-over-year basis. sell-side analysts forecast that Boeing Co will post 14.06 earnings per share for the current year.
Boeing announced that its board has authorized a stock buyback program on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. This is a boost 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 dividend yield of 1.93%. Boeing’s dividend payout ratio is currently 50.78%.
In other news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
A number of analysts have recently weighed in on BA shares. Sanford C. Bernstein boosted their price objective on shares of Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Argus restated a “buy” rating and issued a $290.00 price objective (up from $270.00) on shares of Boeing in a research note on Friday, October 27th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $300.00 target price on shares of Boeing in a research note on Thursday, October 26th. Cowen reiterated a “buy” rating and set a $315.00 target price on shares of Boeing in a research note on Thursday, October 26th. Finally, Jefferies Group upped their target price on shares of Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a research note 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. Boeing currently has a consensus rating of “Buy” and an average 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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