ZWJ Investment Counsel Inc. Invests $474,000 in Boeing Co (BA)
ZWJ Investment Counsel Inc. acquired a new stake in shares of Boeing Co (NYSE:BA) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,863 shares of the aircraft producer’s stock, valued at approximately $474,000. ZWJ Investment Counsel Inc. owned about 3.13% of Boeing at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in Boeing during the 2nd quarter worth about $4,904,000. Allegis Investment Advisors LLC acquired a new position in Boeing during the 2nd quarter worth about $351,000. Blair William & Co. IL lifted its holdings in Boeing by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock worth $31,170,000 after buying an additional 6,141 shares during the period. Alps Advisors Inc. lifted its holdings in Boeing by 46.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock worth $956,000 after buying an additional 1,532 shares during the period. Finally, State of Wisconsin Investment Board lifted its holdings in Boeing by 23.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock worth $117,989,000 after buying an additional 112,520 shares during the period. 70.87% of the stock is currently owned by institutional investors.
Several research analysts have commented on BA shares. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Wells Fargo & Co reissued a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of Boeing in a research note on Wednesday, September 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $303.00 price objective (up from $274.00) on shares of Boeing in a research note on Wednesday, September 20th. They noted that the move was a valuation call. Jefferies Group boosted their price objective on Boeing from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, September 22nd. Finally, Cowen reissued a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Boeing in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $285.06.
Shares of Boeing Co (BA) opened at $336.21 on Tuesday. Boeing Co has a 12-month low of $156.75 and a 12-month high of $336.88. The company has a market capitalization of $200,240.00, a PE ratio of 30.93, a P/E/G ratio of 2.28 and a beta of 1.23. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The business had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. During the same period in the previous year, the company posted $3.51 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities analysts anticipate that Boeing Co will post 10.13 earnings per share for the current fiscal year.
Boeing announced that its Board of Directors has approved a share repurchase plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.03%. 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 payout ratio is presently 52.25%.
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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