Cibc Bank USA reduced its stake in shares of Boeing Co (NYSE:BA) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,999 shares of the aircraft producer’s stock after selling 319 shares during the quarter. Boeing comprises 0.7% of Cibc Bank USA’s portfolio, making the stock its 15th biggest holding. Cibc Bank USA’s holdings in Boeing were worth $5,206,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new stake in shares of Boeing in the second quarter valued at about $101,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Boeing by 220.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock valued at $105,000 after purchasing an additional 220 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of Boeing in the first quarter valued at about $108,000. Icon Wealth Partners LLC purchased a new stake in shares of Boeing in the second quarter valued at about $125,000. Finally, Institutional & Family Asset Management LLC purchased a new stake in shares of Boeing in the first quarter valued at about $139,000. Institutional investors own 69.56% of the company’s stock.
NYSE:BA opened at $357.75 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.32 and a debt-to-equity ratio of 8.07. The company has a market cap of $203.16 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 1.73 and a beta of 1.30. Boeing Co has a fifty-two week low of $259.56 and a fifty-two week high of $394.28.
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 company had revenue of $25.15 billion for the quarter, compared to the consensus estimate of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. Boeing’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.72 earnings per share. On average, equities analysts predict that Boeing Co will post 15.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, November 8th. Boeing’s dividend payout ratio is currently 56.81%.
Several brokerages have issued reports on BA. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $407.00 price target on the stock in a report on Friday, October 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $400.00 price target on shares of Boeing in a report on Thursday, July 26th. Jefferies Financial Group upped their price target on shares of Boeing from $415.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Canaccord Genuity reissued a “hold” rating and set a $360.00 price objective (up previously from $350.00) on shares of Boeing in a research note on Thursday, October 25th. Finally, Societe Generale set a $409.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Thursday, October 25th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $410.21.
In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $350.07, for a total transaction of $1,750,350.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.
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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