Synovus Financial Corp Reduces Stake in Boeing Co (BA)
Synovus Financial Corp decreased its stake in shares of Boeing Co (NYSE:BA) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,935 shares of the aircraft producer’s stock after selling 1,128 shares during the quarter. Synovus Financial Corp’s holdings in Boeing were worth $6,081,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Lipe & Dalton bought a new stake in Boeing in the third quarter valued at about $100,000. Burt Wealth Advisors bought a new stake in Boeing in the third quarter valued at about $100,000. Clear Perspective Advisors LLC increased its stake in Boeing by 31.0% in the second 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 period. Vantage Investment Advisors LLC increased its stake in Boeing by 11.1% in the second quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after acquiring an additional 84 shares during the period. Finally, CWH Capital Management Inc. bought a new stake in Boeing in the second quarter valued at about $134,000. Institutional investors own 70.45% of the company’s stock.
In related news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.28% of the stock is currently owned by corporate insiders.
Boeing Co (BA) opened at $343.16 on Wednesday. Boeing Co has a 12-month low of $167.22 and a 12-month high of $361.45. The stock has a market cap of $202,322.95, a P/E ratio of 25.48, a PEG ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The company had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same period in the prior year, the business earned $2.47 earnings per share. Boeing’s quarterly revenue was up 8.9% on a year-over-year basis. research analysts anticipate that Boeing Co will post 14.03 EPS for the current fiscal year.
Boeing declared that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio is presently 50.78%.
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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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