Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in shares of Boeing Co (NYSE:BA) by 13.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 78,802 shares of the aircraft producer’s stock after acquiring an additional 9,302 shares during the period. Boeing makes up approximately 0.9% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s investment portfolio, making the stock its 19th largest holding. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Boeing were worth $23,490,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Stonehearth Capital Management LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $105,000. Solaris Asset Management LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $111,000. Lipe & Dalton purchased a new stake in Boeing in the third quarter valued at approximately $100,000. Burt Wealth Advisors purchased a new stake in Boeing in the third quarter valued at approximately $100,000. Finally, Cerebellum GP LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $128,000. Institutional investors and hedge funds own 70.75% of the company’s stock.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Boeing stock opened at $330.47 on Monday. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. The firm has a market capitalization of $194,478.39, a P/E ratio of 24.53, a PEG ratio of 1.71 and a beta of 1.37. Boeing Co has a 52 week low of $173.75 and a 52 week high of $371.60.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 EPS. research analysts anticipate that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its board has approved a stock buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts recently commented on BA shares. Sanford C. Bernstein upped their target price on Boeing from $402.00 to $422.00 in a research report on Friday, February 2nd. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $330.00 target price on the stock in a research report on Tuesday, January 2nd. Cowen reiterated a “buy” rating and issued a $320.00 target price on shares of Boeing in a research report on Monday, December 11th. JPMorgan Chase & Co. set a $325.00 target price on Boeing and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Bank of America set a $320.00 target price on Boeing and gave the company a “buy” rating in a research report on Tuesday, December 12th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $358.47.
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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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