Campbell & CO Investment Adviser LLC Takes $209,000 Position in Boeing Co (BA)
Campbell & CO Investment Adviser LLC bought a new stake in shares of Boeing Co (NYSE:BA) during the third quarter, Holdings Channel reports. The institutional investor bought 822 shares of the aircraft producer’s stock, valued at approximately $209,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lipe & Dalton purchased a new position in shares of Boeing during the 3rd quarter valued at $100,000. Burt Wealth Advisors purchased a new position in shares of Boeing during the 3rd quarter valued at $100,000. Clear Perspective Advisors LLC increased its holdings in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after acquiring an additional 135 shares during the last quarter. CWH Capital Management Inc. bought a new stake in Boeing in the 2nd quarter valued at $134,000. Finally, Catamount Wealth Management bought a new stake in Boeing in the 2nd quarter valued at $138,000. Institutional investors own 70.78% of the company’s stock.
BA has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target on the stock in a report on Tuesday, January 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $345.00 price target (up from $290.00) on shares of Boeing in a report on Thursday, February 1st. Robert W. Baird set a $433.00 price target on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $325.00 price target on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $253.54 price target on the stock. in a report on Thursday, October 12th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Boeing presently has a consensus rating of “Buy” and a consensus target price of $349.00.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion for the quarter, compared to the consensus estimate of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. research analysts anticipate that Boeing Co will post 14.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.96%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s dividend payout ratio is presently 42.17%.
Boeing declared that its Board of Directors has approved a stock repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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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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