Hermes Investment Management Ltd. lowered its position in Boeing (NYSE:BA) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,975 shares of the aircraft producer’s stock after selling 1,281 shares during the period. Hermes Investment Management Ltd.’s holdings in Boeing were worth $2,942,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Boeing by 123.7% in the 4th quarter. SG Americas Securities LLC now owns 51,841 shares of the aircraft producer’s stock worth $15,288,000 after purchasing an additional 270,529 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Boeing by 103.2% in the 4th quarter. Mizuho Securities USA LLC now owns 31,106 shares of the aircraft producer’s stock worth $9,174,000 after purchasing an additional 15,799 shares in the last quarter. Boston Advisors LLC boosted its position in Boeing by 1,089.6% in the 4th quarter. Boston Advisors LLC now owns 51,652 shares of the aircraft producer’s stock worth $15,233,000 after purchasing an additional 47,310 shares in the last quarter. Field & Main Bank purchased a new stake in Boeing in the 4th quarter worth approximately $1,792,000. Finally, Ascension Asset Management LLC purchased a new stake in Boeing in the 4th quarter worth approximately $2,731,000. Hedge funds and other institutional investors own 70.76% of the company’s stock.
NYSE BA traded down $10.28 during mid-day trading on Friday, hitting $326.12. The stock had a trading volume of 5,710,143 shares, compared to its average volume of 6,096,282. Boeing has a twelve month low of $175.47 and a twelve month 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. The company has a market cap of $197,968.13, a P/E ratio of 27.09, a P/E/G ratio of 1.74 and a beta of 1.39.
Boeing (NYSE:BA) last posted its quarterly earnings data 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. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same period in the prior year, the company earned $2.47 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. sell-side analysts predict that Boeing will post 14.05 EPS for the current fiscal year.
Boeing announced that its Board of Directors has initiated a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have commented on the company. Bank of America restated a “buy” rating and issued a $470.00 price objective (up previously from $395.00) on shares of Boeing in a research report on Thursday, February 1st. Canaccord Genuity upped their price objective on Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a research report on Thursday, February 1st. Societe Generale set a $373.00 price objective on Boeing and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Credit Suisse Group set a $443.00 price objective on Boeing and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Sanford C. Bernstein upped their price objective on Boeing from $402.00 to $422.00 in a research report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $365.19.
In related news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.
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Boeing Company Profile
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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