Optimum Investment Advisors lowered its stake in Boeing Co (NYSE:BA) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,221 shares of the aircraft producer’s stock after selling 257 shares during the quarter. Boeing makes up 0.9% of Optimum Investment Advisors’ investment portfolio, making the stock its 21st largest holding. Optimum Investment Advisors’ holdings in Boeing were worth $3,429,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in Boeing by 16.0% during the 2nd quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock valued at $2,488,029,000 after acquiring an additional 1,023,959 shares in the last quarter. Janus Henderson Group PLC grew its stake in Boeing by 23.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after acquiring an additional 1,121,675 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Boeing by 4.6% during the 2nd 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 acquiring an additional 227,374 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Boeing by 33,457.1% during the 1st quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock valued at $3,701,000 after acquiring an additional 3,689,648 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Boeing by 2.0% during the 2nd quarter. American Century Companies Inc. now owns 2,898,444 shares of the aircraft producer’s stock valued at $972,457,000 after acquiring an additional 56,375 shares in the last quarter. 70.42% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Diana L. Sands sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was 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 can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.
Shares of NYSE BA opened at $357.75 on Monday. The company has a market capitalization of $203.16 billion, a P/E ratio of 29.71, a PEG ratio of 1.73 and a beta of 1.30. Boeing Co has a 52 week low of $259.56 and a 52 week 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 announced its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $0.11. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The business had revenue of $25.15 billion during the quarter, compared to analysts’ expectations of $23.84 billion. During the same quarter in the previous year, the business posted $2.72 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Boeing Co will post 15.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a $1.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $6.84 annualized dividend and a yield of 1.91%. Boeing’s dividend payout ratio (DPR) is currently 56.81%.
BA has been the topic of several research analyst reports. Jefferies Financial Group lifted their target price on Boeing to $410.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Berenberg Bank reaffirmed a “buy” rating and set a $430.00 target price on shares of Boeing in a research note on Monday, September 3rd. Morgan Stanley set a $400.00 target price on Boeing and gave the company a “hold” rating in a research note on Friday, September 28th. Goldman Sachs Group set a $387.00 target price on Boeing and gave the company a “neutral” rating in a research note on Wednesday, October 24th. Finally, Cowen reaffirmed a “buy” rating and set a $445.00 target price on shares of Boeing in a research note on Monday, October 1st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $410.21.
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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