OLD National Bancorp IN Has $2,123,000 Stake in Boeing Co. (BA)
OLD National Bancorp IN decreased its position in Boeing Co. (NYSE:BA) by 54.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,347 shares of the aircraft producer’s stock after selling 19,474 shares during the period. OLD National Bancorp IN’s holdings in Boeing were worth $2,123,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Panagora Asset Management Inc. boosted its stake in shares of Boeing by 23.3% in the first quarter. Panagora Asset Management Inc. now owns 1,139,382 shares of the aircraft producer’s stock worth $144,633,000 after buying an additional 215,276 shares during the period. Rothschild Investment Corp IL boosted its stake in shares of Boeing by 2.6% in the second quarter. Rothschild Investment Corp IL now owns 90,321 shares of the aircraft producer’s stock worth $11,730,000 after buying an additional 2,250 shares during the period. First Quadrant L P CA boosted its stake in shares of Boeing by 991.8% in the second quarter. First Quadrant L P CA now owns 133,200 shares of the aircraft producer’s stock worth $17,299,000 after buying an additional 121,000 shares during the period. Scopia Capital Management LP bought a new stake in shares of Boeing during the first quarter worth approximately $38,707,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Boeing during the first quarter worth approximately $76,827,000. 75.45% of the stock is owned by institutional investors and hedge funds.
Shares of Boeing Co. (NYSE:BA) traded up 0.18% during midday trading on Tuesday, hitting $127.71. The company’s stock had a trading volume of 1,121,610 shares. The firm has a market cap of $79.67 billion, a P/E ratio of 22.99 and a beta of 1.06. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.59. The stock’s 50 day moving average is $131.83 and its 200-day moving average is $130.66.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.48. The company had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. Boeing’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. Equities analysts predict that Boeing Co. will post $6.30 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 12th were issued a $1.09 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.42%. Boeing’s dividend payout ratio (DPR) is presently 80.15%.
A number of research analysts have issued reports on the company. Goldman Sachs Group Inc. set a $107.00 target price on Boeing and gave the company a “sell” rating in a research note on Tuesday, August 30th. Citigroup Inc. decreased their target price on Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Group reissued a “buy” rating and issued a $165.00 target price on shares of Boeing in a research note on Friday, August 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $145.00 target price on shares of Boeing in a research note on Sunday, July 31st. Finally, Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $133.41 target price for the company in a research note on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. Boeing currently has a consensus rating of “Hold” and an average price target of $147.23.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Randall L. Stephenson bought 1,871 shares of the stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the acquisition, the director now directly owns 3,721 shares in the company, valued at $498,204.69. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by corporate 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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