Heritage Trust Co increased its stake in shares of Boeing Co (NYSE:BA) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,521 shares of the aircraft producer’s stock after purchasing an additional 155 shares during the quarter. Heritage Trust Co’s holdings in Boeing were worth $813,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL increased its position in shares of Boeing by 13.9% during the 4th quarter. Lodestar Investment Counsel LLC IL now owns 4,824 shares of the aircraft producer’s stock valued at $1,556,000 after purchasing an additional 588 shares during the last quarter. Davis R M Inc. grew its position in Boeing by 185.5% in the 4th quarter. Davis R M Inc. now owns 13,730 shares of the aircraft producer’s stock valued at $4,428,000 after acquiring an additional 8,921 shares during the last quarter. USA Mutuals Advisors Inc. grew its position in Boeing by 5.0% in the 4th quarter. USA Mutuals Advisors Inc. now owns 21,000 shares of the aircraft producer’s stock valued at $6,773,000 after acquiring an additional 1,000 shares during the last quarter. Community Bank & Trust Waco Texas grew its position in Boeing by 1.2% in the 4th quarter. Community Bank & Trust Waco Texas now owns 10,341 shares of the aircraft producer’s stock valued at $3,335,000 after acquiring an additional 123 shares during the last quarter. Finally, OLD Second National Bank of Aurora grew its position in Boeing by 2.4% in the 4th quarter. OLD Second National Bank of Aurora now owns 7,275 shares of the aircraft producer’s stock valued at $2,346,000 after acquiring an additional 171 shares during the last quarter. 76.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BA stock opened at $417.97 on Friday. Boeing Co has a twelve month low of $292.47 and a twelve month high of $418.05. The firm has a market capitalization of $236.15 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.96. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The business had revenue of $28.34 billion during the quarter, compared to analysts’ expectations of $26.76 billion. During the same period in the prior year, the business earned $3.04 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that Boeing Co will post 20.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be issued a $2.055 dividend. This represents a $8.22 annualized dividend and a dividend yield of 1.97%. This is a boost from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date is Thursday, February 7th. Boeing’s dividend payout ratio is currently 51.34%.
Boeing announced that its Board of Directors has authorized a share repurchase program on Monday, December 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts have commented on the company. Jefferies Financial Group set a $420.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday, November 13th. Morgan Stanley raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $400.00 to $450.00 in a research report on Wednesday, January 9th. Argus reaffirmed a “fair value” rating and issued a $395.00 price objective on shares of Boeing in a research report on Thursday, October 25th. Cowen reaffirmed a “buy” rating and issued a $445.00 price objective on shares of Boeing in a research report on Tuesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on Boeing to $450.00 and gave the company an “overweight” rating in a research report on Monday, February 11th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $413.27.
In related news, EVP Timothy John Keating sold 26,557 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $395.47, for a total transaction of $10,502,496.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Theodore Colbert III sold 2,137 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $408.85, for a total value of $873,712.45. The disclosure for this sale can be found here. Insiders sold a total of 72,247 shares of company stock valued at $28,922,977 over the last quarter. Company insiders own 0.24% of the company’s stock.
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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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