Hodges Capital Management Inc. trimmed its stake in Boeing (NYSE:BA) by 7.1% during the 4th quarter, Holdings Channel reports. The firm owned 26,161 shares of the aircraft producer’s stock after selling 2,010 shares during the period. Hodges Capital Management Inc.’s holdings in Boeing were worth $7,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Arete Wealth Advisors LLC grew its position in Boeing by 0.4% in the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock worth $475,000 after purchasing an additional 9 shares during the last quarter. High Falls Advisors Inc grew its position in Boeing by 0.3% in the 2nd quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock worth $696,000 after purchasing an additional 11 shares during the last quarter. Arcus Capital Partners LLC grew its position in Boeing by 0.7% in the 2nd quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock worth $324,000 after purchasing an additional 12 shares during the last quarter. Quadrant Capital Group LLC grew its position in Boeing by 2.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,670 shares of the aircraft producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Westover Capital Advisors LLC grew its position in Boeing by 3.6% in the 2nd quarter. Westover Capital Advisors LLC now owns 1,359 shares of the aircraft producer’s stock worth $269,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 70.76% of the company’s stock.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the business’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 document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.
Several research firms have issued reports on BA. Royal Bank of Canada restated a “hold” rating and issued a $358.00 price target (down from $378.00) on shares of Boeing in a research report on Friday. Morgan Stanley reiterated a “hold” rating and set a $373.00 target price on shares of Boeing in a research report on Thursday. Barclays reiterated a “buy” rating and set a $388.00 target price on shares of Boeing in a research report on Wednesday, April 4th. Societe Generale set a $373.00 target price on shares of Boeing and gave the company a “neutral” rating in a research report on Thursday, February 1st. Finally, Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 target price on the stock. in a research report on Thursday, March 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $365.19.
NYSE:BA opened at $326.12 on Monday. The stock has a market capitalization of $191,918.36, a price-to-earnings ratio of 27.09, a PEG ratio of 1.69 and a beta of 1.39. Boeing has a 12 month low of $175.47 and a 12 month high of $371.60. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the Zacks’ 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 net margin of 8.78% and a negative return on equity of 11,050.62%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 earnings per share. research analysts predict that Boeing will post 14.05 earnings per share for the current fiscal year.
Boeing declared that its Board of Directors has authorized a share buyback program 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. Shares repurchase programs are usually an indication that the company’s management 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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