Yellowstone Partners LLC purchased a new stake in Boeing Co (NYSE:BA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,525 shares of the aircraft producer’s stock, valued at approximately $896,000.
Other institutional investors also recently added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in shares of Boeing by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after acquiring an additional 6,141 shares during the period. Texas Yale Capital Corp. increased its stake in Boeing by 1.2% during the 2nd quarter. Texas Yale Capital Corp. now owns 25,499 shares of the aircraft producer’s stock worth $5,042,000 after buying an additional 305 shares during the period. Sciencast Management LP purchased a new stake in Boeing during the 2nd quarter worth approximately $801,000. Hartland & Co. LLC increased its stake in Boeing by 6.0% during the 2nd quarter. Hartland & Co. LLC now owns 4,952 shares of the aircraft producer’s stock worth $979,000 after buying an additional 282 shares during the period. Finally, Korea Investment CORP increased its stake in Boeing by 21.9% during the 3rd quarter. Korea Investment CORP now owns 429,080 shares of the aircraft producer’s stock worth $109,076,000 after buying an additional 77,200 shares during the period. 70.88% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Boeing Co (NYSE BA) opened at $355.92 on Friday. Boeing Co has a twelve month low of $173.75 and a twelve month high of $361.45. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. The stock has a market cap of $211,980.00, a price-to-earnings ratio of 30.34, a PEG ratio of 1.82 and a beta of 1.44.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The business had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. sell-side analysts expect that Boeing Co will post 14.06 earnings per share for the current year.
Boeing declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a $1.71 dividend. This is a boost from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 annualized dividend and a dividend yield of 1.92%. Boeing’s dividend payout ratio is presently 58.31%.
Several equities research analysts recently weighed in on the stock. Buckingham Research set a $289.00 target price on shares of Boeing and gave the stock a “hold” rating in a research note on Thursday, February 8th. Societe Generale set a $373.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Vetr raised shares of Boeing from a “hold” rating to a “buy” rating and set a $369.18 target price on the stock in a research note on Tuesday. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Cowen reaffirmed a “buy” rating and set a $415.00 target price on shares of Boeing in a research note on Wednesday, January 31st. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $354.25.
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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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