Glassman Wealth Services boosted its position in shares of Boeing Co. (NYSE:BA) by 8.0% during the second quarter, Holdings Channel reports. The firm owned 2,062 shares of the aircraft producer’s stock after buying an additional 152 shares during the period. Glassman Wealth Services’ holdings in Boeing were worth $268,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock worth $699,957,000 after buying an additional 304,674 shares during the last quarter. Franklin Resources Inc. boosted its stake in Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock worth $622,808,000 after buying an additional 1,984,650 shares during the last quarter. BlackRock Group LTD boosted its stake in Boeing by 5.9% in the first quarter. BlackRock Group LTD now owns 4,481,880 shares of the aircraft producer’s stock worth $568,928,000 after buying an additional 248,233 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Boeing by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 3,214,195 shares of the aircraft producer’s stock worth $417,213,000 after buying an additional 663,424 shares during the last quarter. Finally, Ruffer LLP boosted its stake in Boeing by 10.5% in the first quarter. Ruffer LLP now owns 3,013,198 shares of the aircraft producer’s stock worth $382,691,000 after buying an additional 285,386 shares during the last quarter. 75.46% of the stock is currently owned by institutional investors and hedge funds.
Boeing Co. (NYSE:BA) traded up 0.89% on Wednesday, reaching $128.93. 1,319,588 shares of the company’s stock were exchanged. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.59. The firm’s 50 day moving average price is $131.68 and its 200 day moving average price is $130.71. The company has a market cap of $80.43 billion, a PE ratio of 23.21 and a beta of 1.06.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same period last year, the company posted $1.62 EPS. Boeing’s revenue was up .9% on a year-over-year basis. On average, analysts expect that Boeing Co. will post $6.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 12th were given a dividend of $1.09 per share. The ex-dividend date was Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a yield of 3.41%. Boeing’s dividend payout ratio (DPR) is currently 80.15%.
A number of research firms have weighed in on BA. Drexel Hamilton reaffirmed a “buy” rating and set a $158.00 target price on shares of Boeing in a research note on Friday, July 15th. Goldman Sachs Group Inc. set a $101.00 price target on shares of Boeing and gave the stock a “sell” rating in a report on Tuesday, May 31st. Deutsche Bank AG reiterated a “buy” rating and set a $160.00 price target on shares of Boeing in a report on Monday, June 20th. Canaccord Genuity reiterated a “hold” rating and set a $140.00 price target on shares of Boeing in a report on Tuesday, May 31st. Finally, Bank of America Corp. reiterated an “underperform” rating and set a $125.00 price target on shares of Boeing in a report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $147.23.
In related news, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall L. Stephenson purchased 1,871 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the completion of the transaction, the director now owns 3,721 shares in the company, valued at $498,204.69. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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