Boeing Co (BA) Stake Lessened by IMA Wealth Inc.
IMA Wealth Inc. lessened its stake in Boeing Co (NYSE:BA) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,215 shares of the aircraft producer’s stock after selling 366 shares during the quarter. IMA Wealth Inc.’s holdings in Boeing were worth $1,414,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Summit Trail Advisors LLC grew its position in shares of Boeing by 33,457.1% during the 1st quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock valued at $3,701,000 after buying an additional 3,689,648 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Boeing by 33,433.9% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock valued at $7,169,000 after buying an additional 2,402,561 shares during the last quarter. Suvretta Capital Management LLC bought a new stake in shares of Boeing during the 1st quarter valued at about $228,424,000. Fred Alger Management Inc. grew its position in shares of Boeing by 85.0% during the 2nd quarter. Fred Alger Management Inc. now owns 1,134,934 shares of the aircraft producer’s stock valued at $380,782,000 after buying an additional 521,442 shares during the last quarter. Finally, Mackay Shields LLC bought a new stake in shares of Boeing during the 1st quarter valued at about $100,442,000. Institutional investors and hedge funds own 69.74% of the company’s stock.
NYSE BA opened at $349.28 on Monday. Boeing Co has a 52 week low of $235.21 and a 52 week high of $374.48. The company has a quick ratio of 0.32, a current ratio of 1.11 and a debt-to-equity ratio of -7.65. The stock has a market capitalization of $200.66 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.74 and a beta of 1.45.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 9th. Boeing’s dividend payout ratio (DPR) is presently 56.81%.
A number of equities research analysts recently weighed in on BA shares. Buckingham Research boosted their price objective on shares of Boeing from $289.00 to $324.00 and gave the company a “hold” rating in a research report on Monday, June 4th. Zacks Investment Research downgraded shares of Boeing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 12th. Cowen reaffirmed a “buy” rating and set a $430.00 price objective on shares of Boeing in a research report on Friday, July 13th. Canaccord Genuity restated a “hold” rating and issued a $350.00 target price on shares of Boeing in a research report on Tuesday, July 24th. Finally, Goldman Sachs Group set a $375.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Seven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Boeing presently has a consensus rating of “Buy” and a consensus target price of $396.41.
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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