Belpointe Asset Management LLC grew its stake in shares of Boeing Co (NYSE:BA) by 60.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,742 shares of the aircraft producer’s stock after buying an additional 3,675 shares during the period. Boeing makes up 0.7% of Belpointe Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Belpointe Asset Management LLC’s holdings in Boeing were worth $3,716,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Next Capital Management LLC acquired a new position in Boeing in the fourth quarter worth about $32,000. Proffitt & Goodson Inc. raised its position in Boeing by 1,371.4% in the fourth quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock worth $33,000 after purchasing an additional 96 shares in the last quarter. Clarfeld Financial Advisors LLC acquired a new position in Boeing in the fourth quarter worth about $40,000. 1 North Wealth Services LLC acquired a new position in Boeing in the fourth quarter worth about $40,000. Finally, Semmax Financial Advisors Inc. acquired a new position in Boeing in the fourth quarter worth about $45,000. 68.04% of the stock is owned by institutional investors and hedge funds.
Boeing stock traded down $1.70 during trading hours on Friday, hitting $347.16. 2,258,083 shares of the stock were exchanged, compared to its average volume of 3,386,503. The company has a current ratio of 1.07, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. The stock has a market capitalization of $195.32 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 2.15 and a beta of 1.31. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.05. The firm had revenue of $22.92 billion for the quarter, compared to analysts’ expectations of $23.04 billion. Boeing had a net margin of 10.06% and a negative return on equity of 1,857.97%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.64 earnings per share. As a group, equities research analysts predict that Boeing Co will post 14.43 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a dividend of $2.055 per share. The ex-dividend date was Thursday, May 9th. This represents a $8.22 annualized dividend and a dividend yield of 2.37%. Boeing’s dividend payout ratio (DPR) is currently 51.34%.
Several research analysts recently issued reports on BA shares. Morgan Stanley increased their price target on shares of Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. UBS Group reissued a “buy” rating and issued a $525.00 price target (up previously from $500.00) on shares of Boeing in a research report on Thursday, February 28th. Argus increased their price target on shares of Boeing from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. DZ Bank reissued a “sell” rating on shares of Boeing in a research report on Monday, March 11th. Finally, Edward Jones lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $407.40.
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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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