Boeing Co (BA) Stake Increased by Colony Group LLC
Colony Group LLC raised its position in shares of Boeing Co (NYSE:BA) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,820 shares of the aircraft producer’s stock after buying an additional 4,587 shares during the period. Colony Group LLC’s holdings in Boeing were worth $12,027,000 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. Buckingham Asset Management LLC grew its stake in shares of Boeing by 0.5% during the first quarter. Buckingham Asset Management LLC now owns 13,965 shares of the aircraft producer’s stock valued at $2,470,000 after purchasing an additional 65 shares during the last quarter. Heritage Trust Co bought a new stake in shares of Boeing during the first quarter valued at approximately $361,000. Outfitter Advisors LTD. grew its stake in shares of Boeing by 20.9% during the first quarter. Outfitter Advisors LTD. now owns 4,052 shares of the aircraft producer’s stock valued at $717,000 after purchasing an additional 700 shares during the last quarter. Pitcairn Co. grew its stake in shares of Boeing by 93.9% during the first quarter. Pitcairn Co. now owns 7,048 shares of the aircraft producer’s stock valued at $1,246,000 after purchasing an additional 3,413 shares during the last quarter. Finally, Ffcm LLC boosted its stake in Boeing by 6.9% in the first quarter. Ffcm LLC now owns 38,380 shares of the aircraft producer’s stock valued at $6,788,000 after acquiring an additional 2,490 shares during the last quarter. 70.97% of the stock is owned by institutional investors.
Shares of Boeing Co (BA) opened at $289.94 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. The firm has a market cap of $168,644.00, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. Boeing Co has a twelve month low of $153.06 and a twelve month high of $292.80.
Boeing announced that its Board of Directors has approved a share repurchase program on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a yield of 2.36%. Boeing’s dividend payout ratio (DPR) is 52.21%.
A number of equities analysts have issued reports on BA shares. Vetr cut shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $266.88 price objective on the stock. in a research note on Wednesday, August 16th. Canaccord Genuity raised their price objective on shares of Boeing from $245.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. J P Morgan Chase & Co set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday. Jefferies Group raised their price objective on shares of Boeing from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, September 22nd. Finally, Zacks Investment Research raised shares of Boeing from a “hold” rating to a “strong-buy” rating and set a $271.00 price objective on the stock in a research note on Tuesday, August 22nd. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Boeing presently has a consensus rating of “Buy” and an average target price of $266.73.
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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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