State Treasurer State of Michigan lifted its holdings in shares of Boeing Co (NYSE:BA) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,250 shares of the aircraft producer’s stock after buying an additional 36,800 shares during the period. State Treasurer State of Michigan’s holdings in Boeing were worth $56,244,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Clear Perspective Advisors LLC lifted its holdings in Boeing by 31.0% in the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after acquiring an additional 135 shares during the period. Vantage Investment Advisors LLC lifted its holdings in Boeing by 11.1% in the second quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after acquiring an additional 84 shares during the period. CWH Capital Management Inc. bought a new position in Boeing in the second quarter valued at about $134,000. Catamount Wealth Management bought a new position in Boeing in the second quarter valued at about $138,000. Finally, Herndon Capital Management LLC lifted its holdings in Boeing by 29.7% in the second quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock valued at $142,000 after acquiring an additional 165 shares during the period. 70.84% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on BA. Credit Suisse Group reissued an “outperform” rating and issued a $375.00 target price (up previously from $310.00) on shares of Boeing in a report on Friday. They noted that the move was a valuation call. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Sanford C. Bernstein reissued an “outperform” rating and issued a $303.00 target price (up previously from $274.00) on shares of Boeing in a report on Wednesday, September 20th. They noted that the move was a valuation call. Vetr downgraded Boeing from a “hold” rating to a “sell” rating and set a $272.77 price objective on the stock. in a research note on Thursday, December 28th. Finally, ValuEngine downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Boeing has an average rating of “Hold” and a consensus price target of $280.74.
Boeing Co (NYSE BA) traded up $8.09 during midday trading on Friday, reaching $336.21. The company’s stock had a trading volume of 6,560,000 shares, compared to its average volume of 3,830,000. The stock has a market cap of $200,240.00, a PE ratio of 30.93, a PEG ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39. Boeing Co has a fifty-two week low of $156.67 and a fifty-two week high of $336.88.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.51 EPS. equities analysts predict that Boeing Co will post 10.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is currently 52.25%.
Boeing declared that its board has authorized a stock repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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