Hallmark Capital Management Inc. lessened its stake in shares of Boeing (NYSE:BA) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,258 shares of the aircraft producer’s stock after selling 1,011 shares during the quarter. Hallmark Capital Management Inc.’s holdings in Boeing were worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after purchasing an additional 407,511 shares in the last quarter. Jennison Associates LLC increased its position in Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after purchasing an additional 1,160,859 shares in the last quarter. Janus Henderson Group PLC increased its position in 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 worth $972,919,000 after purchasing an additional 4,852,679 shares in the last quarter. Ameriprise Financial Inc. increased its position in Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock worth $870,618,000 after purchasing an additional 402,240 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Boeing by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,275,519 shares of the aircraft producer’s stock worth $965,756,000 after purchasing an additional 122,278 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.
A number of analysts recently commented on BA shares. Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $288.75 price objective for the company in a research report on Monday, December 11th. Wells Fargo reiterated a “market perform” rating and set a $290.00 price objective (up previously from $270.00) on shares of Boeing in a research report on Tuesday, December 12th. Bank of America set a $320.00 price target on Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. JPMorgan Chase set a $325.00 price target on Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, Cowen restated a “buy” rating and issued a $320.00 price target on shares of Boeing in a report on Monday, December 11th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $365.19.
Shares of NYSE:BA opened at $326.12 on Friday. The stock has a market cap of $192,695.27, a PE ratio of 27.09, a PEG ratio of 1.69 and a beta of 1.39. 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 has a 1 year low of $175.47 and a 1 year high of $371.60.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the consensus estimate of $2.91 by $1.89. The firm 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%. Boeing’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 EPS. sell-side analysts forecast that Boeing will post 14.05 EPS for the current year.
Boeing declared that its board has approved a stock repurchase program on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.
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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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