Boeing Co (BA) Position Cut by Fisher Asset Management LLC
Fisher Asset Management LLC trimmed its holdings in Boeing Co (NYSE:BA) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,230 shares of the aircraft producer’s stock after selling 17,573 shares during the quarter. Fisher Asset Management LLC’s holdings in Boeing were worth $69,204,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Boeing by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after buying an additional 407,511 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Boeing by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after purchasing an additional 123,420 shares in the last quarter. LSV Asset Management boosted its stake in Boeing by 0.7% during the 2nd quarter. LSV Asset Management now owns 3,006,858 shares of the aircraft producer’s stock valued at $594,606,000 after purchasing an additional 21,804 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Boeing by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 2,906,822 shares of the aircraft producer’s stock valued at $574,841,000 after purchasing an additional 246,578 shares in the last quarter. 70.85% of the stock is owned by institutional investors and hedge funds.
BA has been the subject of a number of research reports. Deutsche Bank increased their price target on Boeing to $300.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Jefferies Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Boeing in a research note on Friday, October 6th. Nord/LB set a $250.00 price target on Boeing and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Royal Bank of Canada increased their price target on Boeing from $269.00 to $273.00 and gave the company a “sector perform” rating in a research note on Thursday, October 26th. Finally, Vetr lowered Boeing from a “hold” rating to a “sell” rating and set a $263.71 price target for the company. in a research note on Friday, December 1st. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $266.73.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The company had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. During the same quarter in the prior year, the firm earned $3.51 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. sell-side analysts forecast that Boeing Co will post 10.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is presently 52.21%.
Boeing announced that its board has initiated a share buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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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