Sterling Capital Management LLC lowered its stake in shares of Boeing (NYSE:BA) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,256 shares of the aircraft producer’s stock after selling 5,675 shares during the period. Sterling Capital Management LLC’s holdings in Boeing were worth $13,052,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BA. Burt Wealth Advisors purchased a new stake in shares of Boeing during the third quarter worth $100,000. Stonehearth Capital Management LLC bought a new position in shares of Boeing in the fourth quarter worth $105,000. Solaris Asset Management LLC bought a new position in shares of Boeing in the fourth quarter worth $111,000. Welch Group LLC bought a new position in shares of Boeing in the fourth quarter worth $120,000. Finally, Cerebellum GP LLC bought a new position in shares of Boeing in the fourth quarter worth $128,000. Hedge funds and other institutional investors own 69.64% of the company’s stock.
Shares of Boeing opened at $359.21 on Thursday, MarketBeat Ratings reports. Boeing has a 12-month low of $183.46 and a 12-month high of $371.60. The stock has a market cap of $206.83 billion, a PE ratio of 29.83, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 8.07.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 25th. The aircraft producer reported $3.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.59 by $1.05. Boeing had a return on equity of 3,774.27% and a net margin of 9.63%. The firm had revenue of $23.38 billion for the quarter, compared to analysts’ expectations of $22.22 billion. During the same period last year, the firm earned $2.01 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. analysts anticipate that Boeing will post 14.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, May 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.90%. Boeing’s dividend payout ratio (DPR) is currently 56.81%.
Several research firms have recently weighed in on BA. Bank of America reaffirmed a “buy” rating and issued a $470.00 price target (up previously from $395.00) on shares of Boeing in a report on Thursday, February 1st. Canaccord Genuity upped their price target on shares of Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. Credit Suisse Group set a $443.00 price target on shares of Boeing and gave the stock an “outperform” rating in a report on Thursday, February 1st. Societe Generale set a $373.00 price target on shares of Boeing and gave the stock a “neutral” rating in a report on Thursday, February 1st. Finally, Sanford C. Bernstein upped their price target on shares of Boeing from $402.00 to $422.00 in a report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Boeing presently has a consensus rating of “Buy” and an average target price of $374.63.
In other news, EVP J Michael Luttig sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total transaction of $3,097,170.00. Following the transaction, the executive vice president now directly owns 27,878 shares of the company’s stock, valued at $9,593,656.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heidi B. Capozzi sold 1,132 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $329.84, for a total value of $373,378.88. Following the transaction, the senior vice president now directly owns 24,416 shares in the company, valued at $8,053,373.44. The disclosure for this sale can be found here. Insiders have sold 12,373 shares of company stock worth $4,233,094 over the last ninety days. Insiders own 0.24% of the company’s stock.
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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