FinTrust Capital Advisors LLC lessened its stake in Boeing Co (NYSE:BA) by 29.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,736 shares of the aircraft producer’s stock after selling 713 shares during the period. FinTrust Capital Advisors LLC’s holdings in Boeing were worth $632,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NuWave Investment Management LLC lifted its stake in Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares during the period. Nordea Investment Management AB lifted its stake in Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares during the period. Guidant Wealth Advisors bought a new position in Boeing during the second quarter worth about $28,000. Next Capital Management LLC bought a new position in Boeing during the fourth quarter worth about $32,000. Finally, Clarfeld Financial Advisors LLC bought a new position in Boeing during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 68.65% of the company’s stock.
Shares of NYSE BA traded up $5.98 during mid-day trading on Thursday, hitting $326.40. 172,602 shares of the stock were exchanged, compared to its average volume of 4,922,259. The firm has a market cap of $187.31 billion, a P/E ratio of 20.39, a P/E/G ratio of 10.14 and a beta of 1.27. The firm’s fifty day moving average price is $352.61. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. Boeing Co has a twelve month low of $292.47 and a twelve month high of $446.01.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. Boeing’s revenue for the quarter was down 35.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 earnings per share. Analysts forecast that Boeing Co will post 3.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be issued a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio is currently 51.34%.
A number of research analysts have commented on BA shares. Barclays cut shares of Boeing from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $417.00 to $367.00 in a research note on Tuesday, May 7th. Citigroup set a $430.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Monday, July 15th. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Goldman Sachs Group restated a “neutral” rating and set a $375.00 price target on shares of Boeing in a research note on Friday, July 12th. Finally, Morgan Stanley set a $500.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $403.10.
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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