State Board of Administration of Florida Retirement System decreased its stake in shares of Boeing Co (NYSE:BA) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 736,820 shares of the aircraft producer’s stock after selling 4,448 shares during the period. Boeing accounts for 0.7% of State Board of Administration of Florida Retirement System’s investment portfolio, making the stock its 26th largest position. State Board of Administration of Florida Retirement System owned about 0.13% of Boeing worth $237,624,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of BA. Ironwood Financial llc bought a new position in Boeing in the 4th quarter worth about $32,000. Proffitt & Goodson Inc. increased its stake in Boeing by 1,371.4% in the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock worth $33,000 after acquiring an additional 96 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in Boeing by 159.3% in the 4th quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock worth $45,000 after acquiring an additional 86 shares during the last quarter. CX Institutional bought a new position in Boeing in the 4th quarter worth about $74,000. Finally, Jackson Grant Investment Advisers Inc. increased its stake in Boeing by 33.1% in the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 237 shares of the aircraft producer’s stock worth $76,000 after acquiring an additional 59 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

BA opened at $378.99 on Friday. The company has a debt-to-equity ratio of 25.99, a quick ratio of 0.31 and a current ratio of 1.08. Boeing Co has a 1 year low of $292.47 and a 1 year high of $446.01. The company has a market cap of $214.12 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.37 and a beta of 1.36.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.96. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The business had revenue of $28.34 billion for the quarter, compared to analyst estimates of $26.76 billion. During the same period last year, the company earned $3.04 EPS. Boeing’s revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts forecast that Boeing Co will post 20.13 earnings per share for the current fiscal year.

Boeing declared that its board has initiated a stock repurchase program on Monday, December 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 8th were given a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a yield of 2.17%. This is a positive change from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date was Thursday, February 7th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

In related news, SVP Heidi B. Capozzi sold 2,916 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $410.84, for a total transaction of $1,198,009.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy John Keating sold 26,557 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $395.47, for a total value of $10,502,496.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,247 shares of company stock worth $28,922,977. 0.24% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on the company. Argus increased their price objective on Boeing from $420.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. UBS Group reiterated a “buy” rating and set a $525.00 price objective (up from $500.00) on shares of Boeing in a research report on Thursday, February 28th. Cowen reiterated a “buy” rating and set a $445.00 price objective on shares of Boeing in a research report on Tuesday, December 18th. DZ Bank reiterated a “sell” rating on shares of Boeing in a research report on Monday, March 11th. Finally, Nord/LB reiterated a “sell” rating and set a $300.00 price objective on shares of Boeing in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $409.94.

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About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Read More: Quiet Period

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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