First Commonwealth Financial Corp PA trimmed its position in Boeing (NYSE:BA) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,709 shares of the aircraft producer’s stock after selling 497 shares during the period. Boeing makes up approximately 2.1% of First Commonwealth Financial Corp PA’s portfolio, making the stock its 7th biggest position. First Commonwealth Financial Corp PA’s holdings in Boeing were worth $1,979,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of BA. Stonehearth Capital Management LLC bought a new stake in Boeing during the 4th quarter worth approximately $105,000. Solaris Asset Management LLC purchased a new position in shares of Boeing in the 4th quarter worth approximately $111,000. Burt Wealth Advisors purchased a new position in shares of Boeing in the 3rd quarter worth approximately $100,000. Welch Group LLC purchased a new position in shares of Boeing in the 4th quarter worth approximately $120,000. Finally, SWS Partners purchased a new position in shares of Boeing in the 4th quarter worth approximately $123,000. 69.64% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on BA shares. Edward Jones upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Morgan Stanley upgraded Boeing to an “equal weight” rating in a research note on Tuesday, April 17th. JPMorgan Chase & Co. boosted their target price on Boeing to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Vetr downgraded Boeing from a “strong-buy” rating to a “buy” rating and set a $368.72 target price on the stock. in a research note on Monday, April 16th. Finally, Barclays restated a “buy” rating and issued a $388.00 target price on shares of Boeing in a research note on Wednesday, April 4th. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Boeing currently has a consensus rating of “Buy” and a consensus target price of $374.63.
In other Boeing news, SVP Gregory L. Hyslop sold 2,241 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $340.27, for a total transaction of $762,545.07. Following the sale, the senior vice president now owns 21,425 shares in the company, valued at $7,290,284.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Michael Luttig sold 9,000 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total value of $3,097,170.00. Following the sale, the executive vice president now owns 27,878 shares in the company, valued at approximately $9,593,656.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,373 shares of company stock worth $4,233,094. Company insiders own 0.24% of the company’s stock.
Boeing stock opened at $359.00 on Friday. Boeing has a 12 month low of $184.53 and a 12 month high of $371.60. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 8.07. The company has a market capitalization of $209.27 billion, a P/E ratio of 29.82, a PEG ratio of 1.78 and a beta of 1.39.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 25th. The aircraft producer reported $3.64 EPS for the quarter, beating the consensus estimate of $2.59 by $1.05. The business had revenue of $23.38 billion for the quarter, compared to the consensus estimate of $22.22 billion. Boeing had a return on equity of 3,774.27% and a net margin of 9.63%. Boeing’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 earnings per share. analysts predict that Boeing will post 14.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 11th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.91%. Boeing’s dividend payout ratio is currently 56.81%.
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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