Loudon Investment Management LLC Sells 626 Shares of Boeing Co (BA)
Loudon Investment Management LLC lessened its position in shares of Boeing Co (NYSE:BA) by 28.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,577 shares of the aircraft producer’s stock after selling 626 shares during the quarter. Loudon Investment Management LLC’s holdings in Boeing were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverpoint Wealth Management Holdings LLC lifted its holdings in Boeing by 0.3% during the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock worth $293,000 after purchasing an additional 4 shares in the last quarter. Accredited Investors Inc. lifted its holdings in Boeing by 0.4% during the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock worth $325,000 after purchasing an additional 6 shares in the last quarter. Arete Wealth Advisors LLC lifted its holdings in Boeing by 0.4% during the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock worth $475,000 after purchasing an additional 9 shares in the last quarter. High Falls Advisors Inc lifted its holdings in Boeing by 0.3% during the 2nd quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock worth $696,000 after purchasing an additional 11 shares in the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in Boeing by 0.7% during the 2nd quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock worth $324,000 after purchasing an additional 12 shares in the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.
BA has been the topic of a number of recent research reports. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $253.54 price objective on the stock. in a report on Thursday, October 12th. Canaccord Genuity upped their target price on Boeing from $235.00 to $245.00 and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Credit Suisse Group restated an “outperform” rating and issued a $310.00 target price (up from $300.00) on shares of Boeing in a research note on Tuesday, October 24th. Morgan Stanley upped their target price on Boeing from $260.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada upped their target price on Boeing from $269.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 26th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $352.44.
Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. analysts expect that Boeing Co will post 14.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is presently 42.20%.
Boeing declared that its board has approved a share buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership 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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