Canandaigua National Bank & Trust Co. boosted its position in shares of Boeing Co (NYSE:BA) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,602 shares of the aircraft producer’s stock after purchasing an additional 907 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Boeing were worth $3,148,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings in Boeing by 17.0% during the first quarter. Sunbelt Securities Inc. now owns 2,066 shares of the aircraft producer’s stock valued at $677,000 after buying an additional 300 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Boeing by 47.3% in the first quarter. Glen Harbor Capital Management LLC now owns 175,532 shares of the aircraft producer’s stock worth $57,554,000 after purchasing an additional 56,364 shares during the period. Cetera Advisor Networks LLC increased its stake in shares of Boeing by 9.0% in the first quarter. Cetera Advisor Networks LLC now owns 40,404 shares of the aircraft producer’s stock worth $13,253,000 after purchasing an additional 3,344 shares during the period. Monetta Financial Services Inc. bought a new position in shares of Boeing in the first quarter worth about $1,312,000. Finally, Centerpoint Advisors LLC increased its stake in shares of Boeing by 505.0% in the first quarter. Centerpoint Advisors LLC now owns 726 shares of the aircraft producer’s stock worth $238,000 after purchasing an additional 606 shares during the period. 69.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on BA shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, March 14th. Vetr lowered Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price objective on the stock. in a research note on Thursday, March 8th. Barclays reiterated a “buy” rating and issued a $388.00 price objective on shares of Boeing in a research note on Wednesday, April 4th. Cowen reiterated a “buy” rating and issued a $415.00 price objective on shares of Boeing in a research note on Tuesday, April 10th. Finally, Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, April 25th. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Boeing currently has a consensus rating of “Buy” and an average price target of $376.03.
Boeing opened at $335.51 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.33 and a current ratio of 1.15. The company has a market cap of $194.96 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 1.66 and a beta of 1.38. Boeing Co has a 1-year low of $197.39 and a 1-year high of $374.48.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 25th. The aircraft producer reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $1.05. The company 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%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 earnings per share. sell-side analysts predict that Boeing Co will post 14.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, August 9th. Boeing’s payout ratio is 56.81%.
In other Boeing news, EVP J Michael Luttig sold 9,000 shares of Boeing stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total transaction of $3,097,170.00. Following the sale, the executive vice president now directly owns 27,878 shares of the company’s stock, valued at $9,593,656.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gregory L. Hyslop sold 2,241 shares of Boeing stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $340.27, for a total value of $762,545.07. Following the sale, the senior vice president now directly owns 21,425 shares in the company, valued at $7,290,284.75. The disclosure for this sale can be found here. Insiders have sold 12,373 shares of company stock worth $4,233,094 over the last ninety days. Company insiders own 0.24% of the company’s stock.
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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