Parsons Capital Management Inc. RI boosted its holdings in Boeing Co (NYSE:BA) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 28,457 shares of the aircraft producer’s stock after buying an additional 1,146 shares during the quarter. Boeing comprises approximately 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 16th biggest holding. Parsons Capital Management Inc. RI’s holdings in Boeing were worth $10,359,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Thoroughbred Financial Services LLC increased its stake in Boeing by 36,928.2% during the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock worth $623,555,000 after acquiring an additional 6,218,711 shares during the last quarter. FMR LLC increased its stake in Boeing by 26.5% during the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock worth $4,211,577,000 after acquiring an additional 2,311,630 shares during the last quarter. Two Sigma Advisers LP increased its stake in Boeing by 33.6% during the fourth quarter. Two Sigma Advisers LP now owns 995,560 shares of the aircraft producer’s stock worth $321,068,000 after acquiring an additional 250,600 shares during the last quarter. Mackay Shields LLC acquired a new stake in Boeing during the fourth quarter worth about $77,540,000. Finally, SG Americas Securities LLC increased its stake in Boeing by 378.0% during the second quarter. SG Americas Securities LLC now owns 302,625 shares of the aircraft producer’s stock worth $110,159,000 after acquiring an additional 239,316 shares during the last quarter. Hedge funds and other institutional investors own 68.65% of the company’s stock.
Shares of Boeing stock traded up $5.98 on Thursday, reaching $326.40. 172,602 shares of the company were exchanged, compared to its average volume of 4,922,259. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The stock has a 50-day moving average price of $352.61. The stock has a market capitalization of $187.31 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 10.14 and a beta of 1.27. Boeing Co has a 1-year low of $292.47 and a 1-year high of $446.01.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $1.07. The business had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.33 EPS. Research analysts forecast that Boeing Co will post 3.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a dividend of $2.055 per share. 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 payout ratio is 51.34%.
Several brokerages have recently weighed in on BA. UBS Group reaffirmed a “buy” rating and issued a $480.00 target price (down previously from $500.00) on shares of Boeing in a research report on Wednesday, July 10th. Citigroup set a $430.00 price target on Boeing and gave the company a “buy” rating in a report on Monday, July 15th. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their price target on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Canaccord Genuity set a $380.00 price target on Boeing and gave the company a “hold” rating in a report on Friday, July 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The company currently 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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