Field & Main Bank acquired a new stake in Boeing (NYSE:BA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,075 shares of the aircraft producer’s stock, valued at approximately $1,792,000. Boeing accounts for about 1.7% of Field & Main Bank’s investment portfolio, making the stock its 14th biggest position.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arete Wealth Advisors LLC lifted its position in 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 buying an additional 9 shares during the last quarter. High Falls Advisors Inc lifted its position in Boeing by 0.3% in the second quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock valued at $696,000 after buying an additional 11 shares during the last quarter. Arcus Capital Partners LLC lifted its position in Boeing by 0.7% in the second quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock valued at $324,000 after buying an additional 12 shares during the last quarter. Strategic Advisors LLC lifted its position in Boeing by 1.0% in the second quarter. Strategic Advisors LLC now owns 2,021 shares of the aircraft producer’s stock valued at $400,000 after buying an additional 20 shares during the last quarter. Finally, Empirical Financial Services LLC lifted its position in Boeing by 0.9% in the second quarter. Empirical Financial Services LLC now owns 3,094 shares of the aircraft producer’s stock valued at $612,000 after buying an additional 28 shares during the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on BA shares. Jefferies Group reaffirmed a “buy” rating and issued a $339.00 target price on shares of Boeing in a research report on Monday, January 8th. JPMorgan Chase set a $325.00 target price on shares of Boeing and gave the company a “buy” rating in a research report on Tuesday, December 12th. Edward Jones raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Buckingham Research set a $203.00 price target on shares of Boeing and gave the stock a “hold” rating in a research report on Thursday, December 28th. Finally, Citigroup increased their price target on shares of Boeing to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $365.19.
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 sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.24% of the company’s stock.
Shares of NYSE:BA opened at $326.12 on Friday. The company has a market capitalization of $192,695.27, a P/E ratio of 27.09, a PEG ratio of 1.69 and a beta of 1.39. Boeing has a fifty-two week low of $175.47 and a fifty-two week high of $371.60. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion for the quarter, compared to analyst estimates 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 was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 earnings per share. analysts predict that Boeing will post 14.05 earnings per share for the current fiscal year.
Boeing declared that its Board of Directors has approved a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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