Laffer Investments cut its holdings in Boeing Co (NYSE:BA) by 29.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,678 shares of the aircraft producer’s stock after selling 713 shares during the period. Laffer Investments’ holdings in Boeing were worth $427,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of BA. Vanguard Group Inc. grew its stake in shares of Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after buying an additional 407,511 shares during the period. Jennison Associates LLC grew its stake in shares of Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares during the period. Janus Henderson Group PLC grew its stake in shares of Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after buying an additional 402,240 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Boeing by 2.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock valued at $801,586,000 after buying an additional 86,722 shares during the period. Institutional investors own 70.88% of the company’s stock.
Boeing Co (NYSE:BA) opened at $356.66 on Friday. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. The firm has a market cap of $212,420.00, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.82 and a beta of 1.44. Boeing Co has a 12-month low of $173.75 and a 12-month high of $361.45.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $1.89. The company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 EPS. equities research analysts predict that Boeing Co will post 14.06 earnings per share for the current year.
The company also recently disclosed 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 a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio is presently 58.31%.
Boeing declared that its board has authorized a share repurchase plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have recently issued reports on BA shares. Royal Bank of Canada set a $290.00 price objective on shares of Boeing and gave the company a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group reissued a “buy” rating and set a $339.00 price objective on shares of Boeing in a research note on Monday, January 8th. JPMorgan Chase & Co. set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Buckingham Research set a $203.00 price objective on shares of Boeing and gave the company a “hold” rating in a research note on Thursday, December 28th. Finally, Edward Jones raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $357.77.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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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