Wealthstreet Investment Advisors LLC Lowers Holdings in Boeing Co (BA)
Wealthstreet Investment Advisors LLC decreased its position in Boeing Co (NYSE:BA) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,047 shares of the aircraft producer’s stock after selling 623 shares during the period. Boeing comprises approximately 1.6% of Wealthstreet Investment Advisors LLC’s portfolio, making the stock its 11th biggest holding. Wealthstreet Investment Advisors LLC’s holdings in Boeing were worth $13,034,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of BA. CSat Investment Advisory L.P. purchased a new stake in shares of Boeing in the second quarter valued at $101,000. Icon Wealth Partners LLC purchased a new stake in shares of Boeing in the second quarter valued at $125,000. James Hambro & Partners purchased a new stake in shares of Boeing in the second quarter valued at $142,000. Avestar Capital LLC lifted its position in shares of Boeing by 544.7% in the second quarter. Avestar Capital LLC now owns 490 shares of the aircraft producer’s stock valued at $161,000 after acquiring an additional 414 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Boeing in the second quarter valued at $163,000. 69.64% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on BA. Cowen restated a “buy” rating and issued a $445.00 price objective on shares of Boeing in a research report on Monday, October 1st. Morgan Stanley set a $400.00 price objective on Boeing and gave the company a “hold” rating in a research report on Friday, September 28th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Credit Suisse Group upped their price objective on Boeing from $455.00 to $456.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. Finally, Sanford C. Bernstein upped their price objective on Boeing from $426.00 to $440.00 and gave the company a “positive” rating in a research report on Friday, October 26th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $410.21.
Boeing (NYSE:BA) last released its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $0.11. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The firm had revenue of $25.15 billion for the quarter, compared to the consensus estimate of $23.84 billion. During the same period in the prior year, the business posted $2.72 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Boeing Co will post 15.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be given a dividend of $1.71 per share. The ex-dividend date is Thursday, November 8th. This represents a $6.84 annualized dividend and a yield of 2.06%. Boeing’s dividend payout ratio (DPR) is presently 56.81%.
In other news, SVP Diana L. Sands sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $350.07, for a total value of $1,750,350.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jenette E. Ramos sold 1,640 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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Boeing Company Profile
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.
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