Institute for Wealth Management LLC. lessened its stake in shares of Boeing Co (NYSE:BA) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,172 shares of the aircraft producer’s stock after selling 577 shares during the period. Boeing accounts for approximately 1.3% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 9th biggest position. Institute for Wealth Management LLC.’s holdings in Boeing were worth $5,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NuWave Investment Management LLC raised its holdings in Boeing by 554.5% in the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. Nordea Investment Management AB raised its holdings in Boeing by 128.1% in the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. Guidant Wealth Advisors acquired a new stake in Boeing in the 2nd quarter valued at about $28,000. Next Capital Management LLC acquired a new stake in Boeing in the 4th quarter valued at about $32,000. Finally, Clarfeld Financial Advisors LLC acquired a new stake in Boeing in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 68.65% of the company’s stock.

Shares of NYSE:BA traded up $2.45 during mid-day trading on Friday, reaching $330.45. 3,825,900 shares of the company were exchanged, compared to its average volume of 5,020,733. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.03 and a quick ratio of 0.29. The firm has a market cap of $184.57 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 9.71 and a beta of 1.27. The firm’s 50-day simple moving average is $350.82 and its 200 day simple moving average is $372.62. Boeing Co has a 1 year low of $292.47 and a 1 year high of $446.01.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $1.07. The firm had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm’s quarterly revenue was down 35.1% on a year-over-year basis. During the same quarter last year, the company posted $3.33 EPS. On average, research analysts forecast that Boeing Co will post 4.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be given a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.49%. Boeing’s payout ratio is currently 51.34%.

BA has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a report on Friday, July 19th. TheStreet downgraded shares of Boeing from an “a+” rating to a “c+” rating in a report on Wednesday, April 24th. Credit Suisse Group restated a “buy” rating and set a $425.00 price target on shares of Boeing in a report on Thursday, July 25th. Canaccord Genuity set a $380.00 price target on shares of Boeing and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Bank of America set a $420.00 price target on shares of Boeing and gave the stock a “hold” rating in a report on Thursday, June 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $403.10.

Boeing Company Profile

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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