BerganKDV Wealth Management LLC Increases Position in Boeing Co (BA)
BerganKDV Wealth Management LLC lifted its position in shares of Boeing Co (NYSE:BA) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,208 shares of the aircraft producer’s stock after buying an additional 1,387 shares during the period. Boeing comprises 0.9% of BerganKDV Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. BerganKDV Wealth Management LLC’s holdings in Boeing were worth $3,612,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Clear Perspective Advisors LLC grew its position in shares of Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after buying an additional 135 shares during the last quarter. Vantage Investment Advisors LLC grew its position in shares of Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after buying an additional 84 shares during the last quarter. CWH Capital Management Inc. bought a new stake in shares of Boeing in the 2nd quarter worth approximately $134,000. Catamount Wealth Management bought a new stake in shares of Boeing in the 2nd quarter worth approximately $138,000. Finally, Herndon Capital Management LLC grew its position in shares of Boeing by 29.7% in the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 70.85% of the company’s stock.
BA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Boeing from a “hold” rating to a “strong-buy” rating and set a $271.00 price objective on the stock in a research report on Tuesday, August 22nd. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Cowen reiterated a “buy” rating and issued a $300.00 price objective on shares of Boeing in a research report on Tuesday, September 12th. Vetr lowered Boeing from a “strong-buy” rating to a “buy” rating and set a $269.69 price objective on the stock. in a research report on Wednesday, September 13th. Finally, Deutsche Bank lifted their price objective on Boeing to $300.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Boeing currently has a consensus rating of “Buy” and an average price target of $266.73.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.51 earnings per share. equities research analysts forecast that Boeing Co will post 10.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a dividend of $1.71 per share. This is a boost from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.31%. Boeing’s payout ratio is presently 52.21%.
Boeing declared that its Board of Directors has initiated a share buyback plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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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