Carnick & Kubik Group LLC boosted its stake in Boeing Co (NYSE:BA) by 49.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,440 shares of the aircraft producer’s stock after purchasing an additional 5,776 shares during the quarter. Boeing comprises 1.1% of Carnick & Kubik Group LLC’s investment portfolio, making the stock its 27th biggest position. Carnick & Kubik Group LLC’s holdings in Boeing were worth $5,851,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of BA. Summit Trail Advisors LLC raised its stake in Boeing by 33,457.1% in the first quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock valued at $3,701,000 after purchasing an additional 3,689,648 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Boeing by 33,433.9% in the second quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock valued at $7,169,000 after purchasing an additional 2,402,561 shares in the last quarter. Boston Partners acquired a new position in Boeing in the second quarter valued at about $328,421,000. Suvretta Capital Management LLC acquired a new position in Boeing during the first quarter worth about $228,424,000. Finally, Fred Alger Management Inc. raised its stake in Boeing by 85.0% during the second quarter. Fred Alger Management Inc. now owns 1,134,934 shares of the aircraft producer’s stock worth $380,782,000 after acquiring an additional 521,442 shares in the last quarter. 69.74% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the company. Robert W. Baird reissued a “buy” rating and set a $450.00 target price on shares of Boeing in a research note on Monday, August 13th. Cowen reissued a “buy” rating and set a $430.00 target price on shares of Boeing in a research note on Wednesday, July 25th. ValuEngine downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. reissued a “buy” rating and set a $400.00 target price on shares of Boeing in a research note on Thursday, July 26th. Finally, Zacks Investment Research downgraded Boeing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 12th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $400.60.
NYSE:BA opened at $355.96 on Tuesday. The stock has a market cap of $203.04 billion, a PE ratio of 29.56, a PEG ratio of 1.76 and a beta of 1.44. The company has a current ratio of 1.11, a quick ratio of 0.32 and a debt-to-equity ratio of -7.65. Boeing Co has a 1-year low of $248.91 and a 1-year high of $374.48.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.12). The firm had revenue of $24.26 billion for the quarter, compared to the consensus estimate of $24.02 billion. Boeing had a return on equity of 2,344.87% and a net margin of 9.92%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 earnings per share. sell-side analysts anticipate that Boeing Co will post 14.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 10th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, August 9th. Boeing’s dividend payout ratio (DPR) 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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