St. Louis Trust Co bought a new stake in Boeing (NYSE:BA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,600 shares of the aircraft producer’s stock, valued at approximately $472,000.
Several other hedge funds have also added to or reduced their stakes in the company. Stonehearth Capital Management LLC bought a new position in Boeing during the fourth quarter valued at $105,000. Solaris Asset Management LLC bought a new position in Boeing during the fourth quarter valued at $111,000. Lipe & Dalton bought a new position in Boeing during the third quarter valued at $100,000. Burt Wealth Advisors bought a new position in Boeing during the third quarter valued at $100,000. Finally, Cerebellum GP LLC bought a new position in Boeing during the fourth quarter valued at $128,000. 70.76% of the stock is owned by institutional investors.
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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.
Shares of BA stock traded down $10.28 on Friday, reaching $326.12. The company’s stock had a trading volume of 5,713,613 shares, compared to its average volume of 6,096,282. 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 has a 12-month low of $175.47 and a 12-month high of $371.60. The company has a market capitalization of $191,918.36, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $25.37 billion for the quarter, compared to the consensus estimate of $24.78 billion. During the same quarter last year, the business posted $2.47 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. sell-side analysts forecast that Boeing will post 14.05 EPS for the current fiscal year.
Boeing announced that its board has authorized a share buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
BA has been the subject of several research reports. Buckingham Research reissued a “hold” rating and set a $203.00 price objective on shares of Boeing in a report on Friday, December 22nd. Jefferies Group reissued a “buy” rating and set a $339.00 price objective on shares of Boeing in a report on Monday, January 8th. Credit Suisse Group reissued an “outperform” rating and set a $375.00 price objective (up from $310.00) on shares of Boeing in a report on Friday, January 12th. They noted that the move was a valuation call. Morgan Stanley reissued an “equal weight” rating and set a $373.00 price objective (up from $340.00) on shares of Boeing in a report on Friday, February 23rd. Finally, Vetr lowered Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price objective for the company. in a report on Thursday, March 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $365.19.
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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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