Broadleaf Partners LLC Buys New Position in Boeing Co (BA)
Broadleaf Partners LLC bought a new stake in Boeing Co (NYSE:BA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,397 shares of the aircraft producer’s stock, valued at approximately $3,361,000. Boeing makes up 2.8% of Broadleaf Partners LLC’s portfolio, making the stock its 12th largest holding.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Sciencast Management LP bought a new stake in shares of Boeing during the 2nd quarter worth approximately $801,000. Korea Investment CORP raised its stake in shares of Boeing by 21.9% during the 3rd quarter. Korea Investment CORP now owns 429,080 shares of the aircraft producer’s stock worth $109,076,000 after purchasing an additional 77,200 shares in the last quarter. Fort Pitt Capital Group LLC raised its stake in shares of Boeing by 4.1% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 255,421 shares of the aircraft producer’s stock worth $50,510,000 after purchasing an additional 10,096 shares in the last quarter. Chicago Equity Partners LLC raised its stake in shares of Boeing by 154.1% during the 3rd quarter. Chicago Equity Partners LLC now owns 111,405 shares of the aircraft producer’s stock worth $28,320,000 after purchasing an additional 67,570 shares in the last quarter. Finally, Godsey & Gibb Associates bought a new stake in shares of Boeing during the 2nd quarter worth approximately $12,732,000. Hedge funds and other institutional investors own 70.88% of the company’s stock.
A number of brokerages have recently issued reports on BA. Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $288.75 price objective on the stock in a research note on Monday, December 11th. Berenberg Bank set a $395.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Monday, January 29th. Buckingham Research restated a “hold” rating and issued a $203.00 price target on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group restated a “buy” rating and issued a $339.00 price target on shares of Boeing in a research note on Monday, January 8th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $365.00 price target (up previously from $330.00) on shares of Boeing in a research note on Thursday, February 1st. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $359.39.
Boeing Co (NYSE:BA) opened at $344.67 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. Boeing Co has a 1-year low of $173.75 and a 1-year high of $371.60. The company has a market capitalization of $202,830.00, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same period in the prior year, the firm posted $2.47 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. equities research analysts predict that Boeing Co will post 14.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 9th were issued a dividend of $1.71 per share. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, February 8th. Boeing’s dividend payout ratio is 58.31%.
Boeing announced that its board has initiated a stock 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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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