Boeing Co. (BA) Stake Decreased by Meyer Handelman Co.
Meyer Handelman Co. cut its stake in shares of Boeing Co. (NYSE:BA) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,083 shares of the aircraft producer’s stock after selling 1,900 shares during the period. Meyer Handelman Co.’s holdings in Boeing were worth $10,530,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its position in Boeing by 82.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,513 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 682 shares in the last quarter. Maryland Capital Management purchased a new stake in Boeing during the first quarter worth $203,000. Benjamin F. Edwards & Company Inc. increased its stake in Boeing by 19.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,708 shares of the aircraft producer’s stock worth $222,000 after buying an additional 275 shares in the last quarter. Evanson Asset Management LLC increased its stake in Boeing by 2.4% in the second quarter. Evanson Asset Management LLC now owns 1,719 shares of the aircraft producer’s stock worth $223,000 after buying an additional 41 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC increased its stake in Boeing by 3.0% in the first quarter. Dynamic Advisors Solutions LLC now owns 1,766 shares of the aircraft producer’s stock worth $224,000 after buying an additional 52 shares in the last quarter. 75.45% of the stock is owned by institutional investors.
Shares of Boeing Co. (NYSE:BA) traded down 0.84% during midday trading on Friday, reaching $126.70. The company had a trading volume of 8,035,616 shares. The company’s 50-day moving average is $132.63 and its 200-day moving average is $130.42. The stock has a market capitalization of $79.04 billion, a PE ratio of 22.81 and a beta of 1.06. Boeing Co. has a 1-year low of $102.10 and a 1-year high of $150.59.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. During the same period in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Boeing Co. will post $6.30 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Wednesday, August 10th. Boeing’s dividend payout ratio (DPR) is 80.15%.
A number of analysts have weighed in on the stock. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $126.07 target price for the company in a research report on Wednesday, August 31st. Goldman Sachs Group Inc. set a $107.00 target price on shares of Boeing and gave the company a “sell” rating in a research report on Tuesday, August 30th. Canaccord Genuity reissued a “hold” rating and set a $144.00 target price on shares of Boeing in a research report on Thursday, August 25th. Jefferies Group reissued a “buy” rating and set a $165.00 target price on shares of Boeing in a research report on Friday, August 19th. Finally, Argus reissued a “buy” rating and set a $155.00 target price on shares of Boeing in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Boeing presently has an average rating of “Hold” and a consensus price target of $148.48.
In related news, Director Randall L. Stephenson bought 1,871 shares of the company’s stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the completion of the acquisition, the director now owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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