Boeing Co (BA) Stake Boosted by Janney Capital Management LLC
Janney Capital Management LLC increased its holdings in Boeing Co (NYSE:BA) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,759 shares of the aircraft producer’s stock after acquiring an additional 130 shares during the period. Janney Capital Management LLC’s holdings in Boeing were worth $890,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Ironwood Financial llc bought a new position in Boeing during the fourth quarter valued at $32,000. Proffitt & Goodson Inc. grew its holdings in Boeing by 1,371.4% during the fourth quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock valued at $33,000 after purchasing an additional 96 shares during the period. Contravisory Investment Management Inc. grew its holdings in Boeing by 159.3% during the fourth quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock valued at $45,000 after purchasing an additional 86 shares during the period. CX Institutional bought a new position in Boeing during the fourth quarter valued at $74,000. Finally, Jackson Grant Investment Advisers Inc. grew its holdings in Boeing by 33.1% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 237 shares of the aircraft producer’s stock valued at $76,000 after purchasing an additional 59 shares during the period. 69.78% of the stock is owned by institutional investors.
In other Boeing news, EVP Timothy John Keating sold 26,557 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $395.47, for a total transaction of $10,502,496.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Theodore Colbert III sold 2,137 shares of the firm’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $408.85, for a total value of $873,712.45. The disclosure for this sale can be found here. Insiders sold 72,247 shares of company stock worth $28,922,977 in the last quarter. 0.24% of the stock is currently owned by company insiders.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.96. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The company had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. During the same quarter last year, the business posted $3.04 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. On average, analysts predict that Boeing Co will post 20.13 EPS for the current year.
Boeing announced that its board has authorized a share buyback plan on Monday, December 17th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire up to 11.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 8th were given a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Thursday, February 7th. This is an increase from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio (DPR) is 51.34%.
Several brokerages have weighed in on BA. Norddeutsche Landesbank reissued a “sell” rating and set a $300.00 price objective on shares of Boeing in a report on Wednesday. Nord/LB reissued a “sell” rating and set a $300.00 price objective on shares of Boeing in a report on Wednesday. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a report on Monday, March 11th. DZ Bank restated a “sell” rating on shares of Boeing in a research report on Monday, March 11th. Finally, UBS Group set a $525.00 target price on Boeing and gave the stock a “buy” rating in a research report on Friday, March 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. Boeing has an average rating of “Buy” and an average target price of $409.94.
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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