Boeing Co (BA) Holdings Reduced by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC decreased its position in shares of Boeing Co (NYSE:BA) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,175 shares of the aircraft producer’s stock after selling 1,038 shares during the period. Stoneridge Investment Partners LLC’s holdings in Boeing were worth $4,112,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in Boeing during the 2nd quarter worth approximately $4,904,000. Allegis Investment Advisors LLC purchased a new stake in Boeing during the 2nd quarter valued at approximately $351,000. Blair William & Co. IL grew its holdings in Boeing by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after buying an additional 6,141 shares in the last quarter. Alps Advisors Inc. grew its holdings in Boeing by 46.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after buying an additional 1,532 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in Boeing by 23.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after buying an additional 112,520 shares in the last quarter. Institutional investors own 70.84% of the company’s stock.
A number of equities research analysts have issued reports on BA shares. Royal Bank of Canada set a $290.00 price objective on shares of Boeing and gave the company a “hold” rating in a report on Wednesday, November 15th. Jefferies Group increased their price objective on shares of Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Canaccord Genuity reaffirmed a “hold” rating and set a $235.00 price objective (up from $215.00) on shares of Boeing in a report on Sunday, September 17th. JPMorgan Chase & Co. set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $289.00 price objective for the company in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. Boeing presently has an average rating of “Hold” and an average price target of $280.74.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The firm had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. During the same period last year, the firm posted $3.51 earnings per share. Boeing’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts predict that Boeing Co will post 10.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.03%. Boeing’s dividend payout ratio (DPR) is 52.25%.
Boeing announced that its Board of Directors has initiated a share repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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