31,580 Shares in Boeing Co (BA) Purchased by Nippon Life Global Investors Americas Inc.
Nippon Life Global Investors Americas Inc. bought a new stake in shares of Boeing Co (NYSE:BA) in the third quarter, HoldingsChannel.com reports. The fund bought 31,580 shares of the aircraft producer’s stock, valued at approximately $8,027,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC increased its position in shares of Boeing by 7,215.0% during the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after acquiring an additional 4,852,679 shares in the last quarter. Jennison Associates LLC increased its position in shares of Boeing by 20.3% during the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after acquiring an additional 1,160,859 shares in the last quarter. Koch Industries Inc. increased its position in shares of Boeing by 61,128.7% during the second quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after acquiring an additional 848,467 shares in the last quarter. Stifel Financial Corp increased its position in shares of Boeing by 19,958.0% during the third quarter. Stifel Financial Corp now owns 833,410 shares of the aircraft producer’s stock valued at $212,108,000 after acquiring an additional 829,255 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Boeing by 28,537.7% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after acquiring an additional 779,936 shares in the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.28% of the company’s stock.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $1.89. The company had revenue of $25.37 billion for the quarter, compared to the consensus estimate of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. Boeing’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. equities research analysts predict that Boeing Co will post 14.03 earnings per share for the current year.
Boeing announced that its board has authorized a share repurchase program on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $1.71 dividend. This is an increase from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is currently 50.78%.
BA has been the subject of several analyst reports. Buckingham Research set a $289.00 price target on shares of Boeing and gave the company a “hold” rating in a research report on Thursday, February 8th. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target for the company in a research report on Tuesday, January 2nd. Canaccord Genuity reissued a “hold” rating and set a $345.00 price target (up previously from $290.00) on shares of Boeing in a research report on Thursday, February 1st. Robert W. Baird set a $433.00 price target on shares of Boeing and gave the company a “buy” rating in a research report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 target price on shares of Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $353.24.
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The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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