SlateStone Wealth LLC raised its stake in Boeing Co (NYSE:BA) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,480 shares of the aircraft producer’s stock after acquiring an additional 145 shares during the period. SlateStone Wealth LLC’s holdings in Boeing were worth $1,134,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Boeing by 0.8% in the second quarter. BlackRock Inc. now owns 34,081,637 shares of the aircraft producer’s stock worth $12,406,056,000 after purchasing an additional 264,410 shares in the last quarter. Newport Trust Co lifted its position in shares of Boeing by 0.7% in the fourth quarter. Newport Trust Co now owns 30,713,384 shares of the aircraft producer’s stock worth $10,005,192,000 after purchasing an additional 222,115 shares in the last quarter. State Street Corp lifted its position in shares of Boeing by 0.7% in the fourth quarter. State Street Corp now owns 26,302,874 shares of the aircraft producer’s stock worth $8,568,424,000 after purchasing an additional 181,667 shares in the last quarter. Johanson Financial Advisors Inc. lifted its position in shares of Boeing by 35,366.3% in the fourth quarter. Johanson Financial Advisors Inc. now owns 2,840,145 shares of the aircraft producer’s stock worth $8,716,000 after purchasing an additional 2,832,137 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Boeing by 2.2% in the third quarter. Parametric Portfolio Associates LLC now owns 1,511,415 shares of the aircraft producer’s stock worth $575,048,000 after purchasing an additional 32,801 shares in the last quarter. 68.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the stock. Longbow Research assumed coverage on shares of Boeing in a research report on Tuesday, January 7th. They issued an “underperform” rating and a $300.00 price objective on the stock. UBS Group set a $333.00 target price on shares of Boeing and gave the stock a “neutral” rating in a report on Thursday, February 6th. Canaccord Genuity lowered their target price on shares of Boeing from $350.00 to $340.00 and set a “hold” rating on the stock in a report on Thursday, January 30th. Vertical Group downgraded shares of Boeing from a “neutral” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Berenberg Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and lowered their target price for the stock from $410.00 to $350.00 in a report on Thursday, January 9th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $353.03.
Shares of NYSE:BA traded down $2.33 on Friday, hitting $340.49. The company had a trading volume of 4,196,847 shares, compared to its average volume of 7,797,460. Boeing Co has a 1-year low of $302.72 and a 1-year high of $446.01. The stock has a market cap of $194.10 billion, a price-to-earnings ratio of -283.74, a P/E/G ratio of 6.94 and a beta of 1.28. The stock has a 50 day moving average price of $328.13 and a 200 day moving average price of $349.12.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 29th. The aircraft producer reported ($2.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($3.80). Boeing had a negative net margin of 0.83% and a negative return on equity of 70.76%. The company had revenue of $17.91 billion during the quarter, compared to analyst estimates of $21.76 billion. During the same quarter in the prior year, the firm earned $5.48 earnings per share. Boeing’s revenue for the quarter was down 36.8% on a year-over-year basis. On average, equities analysts predict that Boeing Co will post 4.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 14th will be issued a $2.055 dividend. The ex-dividend date is Thursday, February 13th. This represents a $8.22 annualized dividend and a dividend yield of 2.41%. Boeing’s dividend payout ratio is currently -236.89%.
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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