Boeing Co (BA) Holdings Lifted by Private Advisor Group LLC
Private Advisor Group LLC grew its position in Boeing Co (NYSE:BA) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 47,968 shares of the aircraft producer’s stock after buying an additional 1,737 shares during the period. Private Advisor Group LLC’s holdings in Boeing were worth $12,389,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lipe & Dalton acquired a new stake in shares of Boeing in the 3rd quarter worth approximately $100,000. Burt Wealth Advisors acquired a new stake in shares of Boeing in the 3rd quarter worth approximately $100,000. Clear Perspective Advisors LLC lifted its stake 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 acquiring an additional 135 shares during the period. Vantage Investment Advisors LLC lifted its stake 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 acquiring an additional 84 shares during the period. Finally, CWH Capital Management Inc. acquired a new stake in shares of Boeing in the 2nd quarter worth approximately $134,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.
In other news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.28% of the stock is owned by insiders.
Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The business had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. During the same period in the prior year, the business earned $2.47 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. equities analysts predict that Boeing Co will post 14.01 EPS for the current year.
Boeing announced that its board has initiated a share buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a dividend of $1.71 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is currently 50.78%.
BA has been the subject of a number of research analyst reports. Royal Bank of Canada set a $290.00 price target on shares of Boeing and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group reaffirmed a “buy” rating and issued a $339.00 price target on shares of Boeing in a research note on Monday, January 8th. JPMorgan Chase & Co. set a $325.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Buckingham Research set a $203.00 price target on shares of Boeing and gave the stock a “hold” rating in a research note on Thursday, December 28th. Finally, ValuEngine lowered shares of Boeing from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Boeing currently has an average rating of “Buy” and a consensus target price of $353.24.
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Boeing Company Profile
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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