Toronto Dominion Bank Has $40.35 Million Position in Boeing Co (BA)
Toronto Dominion Bank raised its stake in Boeing Co (NYSE:BA) by 20.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 204,047 shares of the aircraft producer’s stock after purchasing an additional 35,214 shares during the period. Toronto Dominion Bank’s holdings in Boeing were worth $40,346,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Buckingham Asset Management LLC increased its position in shares of Boeing by 0.5% in the 1st quarter. Buckingham Asset Management LLC now owns 13,965 shares of the aircraft producer’s stock worth $2,470,000 after purchasing an additional 65 shares during the last quarter. Heritage Trust Co acquired a new position in shares of Boeing in the 1st quarter valued at about $361,000. Outfitter Advisors LTD. boosted its holdings in shares of Boeing by 20.9% in the 1st quarter. Outfitter Advisors LTD. now owns 4,052 shares of the aircraft producer’s stock valued at $717,000 after buying an additional 700 shares during the period. Pitcairn Co. boosted its holdings in shares of Boeing by 93.9% in the 1st quarter. Pitcairn Co. now owns 7,048 shares of the aircraft producer’s stock valued at $1,246,000 after buying an additional 3,413 shares during the period. Finally, Ffcm LLC boosted its holdings in shares of Boeing by 6.9% in the 1st quarter. Ffcm LLC now owns 38,380 shares of the aircraft producer’s stock valued at $6,788,000 after buying an additional 2,490 shares during the period. 70.97% of the stock is owned by institutional investors.
Several research analysts have recently commented on BA shares. Morgan Stanley set a $260.00 price target on shares of Boeing and gave the company a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “strong-buy” rating and set a $271.00 price target for the company in a report on Tuesday, August 22nd. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cowen reaffirmed a “buy” rating and issued a $300.00 price target on shares of Boeing in a report on Tuesday, September 12th. Finally, Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $269.69 price target for the company. in a report on Wednesday, September 13th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $266.73.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. The firm had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. Boeing’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.51 EPS. equities research analysts predict that Boeing Co will post 10.1 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $6.84 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is presently 52.21%.
Boeing announced that its Board of Directors has authorized a share repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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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