Pinnacle Holdings LLC Decreases Stock Holdings in Boeing Co (NYSE:BA)

Pinnacle Holdings LLC lowered its stake in Boeing Co (NYSE:BA) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 19,677 shares of the aircraft producer’s stock after selling 207 shares during the period. Boeing makes up approximately 2.7% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 2nd biggest position. Pinnacle Holdings LLC’s holdings in Boeing were worth $7,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of Boeing by 1.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,851 shares of the aircraft producer’s stock worth $919,000 after acquiring an additional 29 shares during the period. Cardan Capital Partners LLC lifted its stake in shares of Boeing by 1.9% in the first quarter. Cardan Capital Partners LLC now owns 1,607 shares of the aircraft producer’s stock worth $613,000 after acquiring an additional 30 shares during the period. Apriem Advisors lifted its stake in shares of Boeing by 1.3% in the fourth quarter. Apriem Advisors now owns 2,459 shares of the aircraft producer’s stock worth $793,000 after acquiring an additional 31 shares during the period. CFO4Life Group LLC lifted its stake in shares of Boeing by 5.2% in the second quarter. CFO4Life Group LLC now owns 627 shares of the aircraft producer’s stock worth $228,000 after acquiring an additional 31 shares during the period. Finally, Accredited Investors Inc. lifted its stake in shares of Boeing by 2.0% in the second quarter. Accredited Investors Inc. now owns 1,607 shares of the aircraft producer’s stock worth $585,000 after acquiring an additional 32 shares during the period. Institutional investors own 67.98% of the company’s stock.

BA has been the topic of a number of recent analyst reports. Cowen set a $460.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Wolfe Research lowered Boeing from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $404.00 to $393.00 in a research note on Thursday, July 25th. Zacks Investment Research raised Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price objective on the stock in a research note on Monday, June 10th. Finally, Bank of America set a $420.00 price objective on Boeing and gave the stock a “hold” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $402.65.

BA stock traded up $4.76 during mid-day trading on Friday, reaching $380.39. The company’s stock had a trading volume of 279,636 shares, compared to its average volume of 4,015,058. The company has a market cap of $207.92 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 10.93 and a beta of 1.25. The business’s 50 day moving average price is $347.54 and its 200 day moving average price is $366.44. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The firm’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.33 earnings per share. As a group, equities analysts expect that Boeing Co will post 4.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 9th were issued a dividend of $2.055 per share. The ex-dividend date was Thursday, August 8th. This represents a $8.22 annualized dividend and a dividend yield of 2.16%. Boeing’s dividend payout ratio is 51.34%.

About Boeing

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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