Pinebridge Investments L.P. Has $30.79 Million Holdings in Boeing Co (BA)
Pinebridge Investments L.P. raised its stake in Boeing Co (NYSE:BA) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,132 shares of the aircraft producer’s stock after purchasing an additional 3,288 shares during the quarter. Boeing makes up about 0.7% of Pinebridge Investments L.P.’s portfolio, making the stock its 24th biggest holding. Pinebridge Investments L.P.’s holdings in Boeing were worth $30,793,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP bought a new position in Boeing in the second quarter valued at approximately $4,904,000. Allegis Investment Advisors LLC bought a new position in Boeing in the second quarter valued at approximately $351,000. Blair William & Co. IL grew its stake in Boeing by 4.1% in the second quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after purchasing an additional 6,141 shares in the last quarter. Alps Advisors Inc. grew its stake in Boeing by 46.4% in the second quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after purchasing an additional 1,532 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in Boeing by 23.2% in the second quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after purchasing an additional 112,520 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.
A number of research firms have weighed in on BA. Buckingham Research set a $289.00 price target on Boeing and gave the company a “hold” rating in a research note on Thursday. Vetr upgraded Boeing from a “hold” rating to a “buy” rating and set a $343.92 price target for the company in a research note on Monday. Societe Generale set a $373.00 price target on Boeing and gave the company a “neutral” rating in a research note on Thursday, February 1st. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Sanford C. Bernstein raised their price objective on Boeing from $402.00 to $422.00 in a research report on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $353.24.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $1.89. The business 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 period last year, the firm posted $2.47 EPS. analysts predict 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 is a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is presently 50.78%.
Boeing announced that its board has authorized a stock buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management 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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