Truvestments Capital LLC Buys New Holdings in Boeing Co (BA)

Truvestments Capital LLC bought a new position in Boeing Co (NYSE:BA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,125 shares of the aircraft producer’s stock, valued at approximately $1,384,000. Boeing comprises approximately 0.9% of Truvestments Capital LLC’s holdings, making the stock its 29th largest holding.

A number of other institutional investors have also recently modified their holdings of the business. FMR LLC raised its holdings in shares of Boeing by 16.0% during the second quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock valued at $2,488,029,000 after purchasing an additional 1,023,959 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Boeing by 23.3% during the second quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after purchasing an additional 1,121,675 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Boeing by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 5,158,335 shares of the aircraft producer’s stock valued at $1,730,674,000 after purchasing an additional 227,374 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Boeing by 33,457.1% during 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 during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Boeing by 2.0% during the second quarter. American Century Companies Inc. now owns 2,898,444 shares of the aircraft producer’s stock valued at $972,457,000 after purchasing an additional 56,375 shares during the last quarter. 69.56% of the stock is owned by institutional investors and hedge funds.

BA opened at $363.07 on Friday. The company has a market capitalization of $198.71 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.69 and a beta of 1.40. Boeing Co has a 1-year low of $258.00 and a 1-year high of $394.28. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.10 and a quick ratio of 0.32.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.47 by $0.11. The business had revenue of $25.15 billion during the quarter, compared to analyst estimates of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.72 earnings per share. Equities research analysts anticipate that Boeing Co will post 15.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a $1.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.88%. Boeing’s payout ratio is currently 56.81%.

In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $350.07, for a total value of $1,750,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Several analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Boeing to $410.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. Berenberg Bank restated a “buy” rating and set a $430.00 target price on shares of Boeing in a research report on Monday, September 3rd. Morgan Stanley set a $400.00 target price on shares of Boeing and gave the company a “hold” rating in a research report on Friday, September 28th. Cowen restated a “buy” rating and set a $445.00 target price on shares of Boeing in a research report on Monday, October 1st. Finally, Goldman Sachs Group set a $387.00 target price on shares of Boeing and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $410.21.

Boeing 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.

Featured Story: How to Use a Moving Average for Trading 

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).

Institutional Ownership by Quarter for Boeing (NYSE:BA)

Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply