Pitcairn Co. raised its position in Boeing Co. (NYSE:BA) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 3,345 shares of the aircraft producer’s stock after buying an additional 59 shares during the period. Pitcairn Co.’s holdings in Boeing were worth $434,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in BA. Butensky & Cohen Financial Security Inc. raised its stake in Boeing by 2.2% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 11,072 shares of the aircraft producer’s stock worth $1,438,000 after buying an additional 242 shares in the last quarter. Destination Wealth Management bought a new position in shares of Boeing during the second quarter worth approximately $763,000. Cornerstone Advisors Inc. increased its position in shares of Boeing by 4.2% in the second quarter. Cornerstone Advisors Inc. now owns 3,801 shares of the aircraft producer’s stock worth $494,000 after buying an additional 154 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Boeing during the second quarter worth approximately $316,346,000. Finally, MSI Financial Services Inc increased its position in shares of Boeing by 7.3% in the second quarter. MSI Financial Services Inc now owns 47,381 shares of the aircraft producer’s stock worth $6,154,000 after buying an additional 3,207 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 0.07% during midday trading on Friday, reaching $131.78. 2,330,720 shares of the company’s stock were exchanged. The stock has a market cap of $82.21 billion, a PE ratio of 23.72 and a beta of 1.06. The company’s 50 day moving average is $131.66 and its 200-day moving average is $130.78. Boeing Co. has a 12 month low of $102.10 and a 12 month high of $150.59.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The firm earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same period in the previous year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Boeing Co. will post $6.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Wednesday, August 10th. Boeing’s dividend payout ratio is currently 80.15%.
BA has been the topic of a number of research analyst reports. Canaccord Genuity reaffirmed a “hold” rating and set a $140.00 price objective on shares of Boeing in a research report on Tuesday, May 31st. Goldman Sachs Group Inc. set a $101.00 price objective on shares of Boeing and gave the company a “sell” rating in a research report on Tuesday, May 31st. Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 price objective on shares of Boeing in a research report on Wednesday, June 1st. Jefferies Group reaffirmed a “buy” rating on shares of Boeing in a research report on Tuesday, May 31st. Finally, Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $127.88 price objective on the stock. in a research report on Monday, June 6th. Two research 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. The company has an average rating of “Hold” and an average target price of $147.23.
In other news, Director Randall L. Stephenson bought 1,871 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $133.89 per share, with a total value of $250,508.19. Following the completion of the acquisition, the director now owns 3,721 shares of the company’s stock, valued at $498,204.69. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
Boeing Company Profile
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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