Municipal Employees Retirement System of Michigan reduced its holdings in shares of Boeing Co (NYSE:BA) by 11.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 29,810 shares of the aircraft producer’s stock after selling 3,980 shares during the quarter. Boeing accounts for approximately 0.4% of Municipal Employees Retirement System of Michigan’s investment portfolio, making the stock its 22nd biggest holding. Municipal Employees Retirement System of Michigan’s holdings in Boeing were worth $7,578,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Boeing by 7,215.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after purchasing an additional 1,160,859 shares during the last quarter. Koch Industries Inc. lifted its holdings in shares of Boeing by 61,128.7% in the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after purchasing an additional 848,467 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Boeing by 28,537.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after purchasing an additional 779,936 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Boeing by 87.8% in the 3rd quarter. APG Asset Management N.V. now owns 1,382,727 shares of the aircraft producer’s stock valued at $351,503,000 after purchasing an additional 646,500 shares during the last quarter. 70.87% of the stock is owned by institutional investors and hedge funds.

Shares of Boeing Co (BA) opened at $337.73 on Friday. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18. The company has a market capitalization of $201,144.56, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.24. Boeing Co has a one year low of $157.29 and a one year high of $352.23.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.07. The firm had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.51 EPS. equities research analysts predict that Boeing Co will post 10.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a yield of 2.03%. Boeing’s dividend payout ratio is currently 52.21%.

Boeing announced that its board has approved a stock buyback plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Several analysts have recently weighed in on BA shares. Royal Bank of Canada set a $290.00 target price on Boeing and gave the company a “hold” rating in a report on Wednesday, November 15th. Jefferies Group boosted their target price on Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. JPMorgan Chase & Co. set a $325.00 target price on Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a report on Tuesday, October 10th. Finally, ValuEngine downgraded Boeing from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. Boeing has an average rating of “Buy” and an average price target of $304.10.

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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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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