Pinnacle Holdings LLC reduced its stake in shares of Boeing Co. (NYSE:BA) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,985 shares of the aircraft producer’s stock after selling 42 shares during the period. Pinnacle Holdings LLC’s holdings in Boeing were worth $2,076,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of BA. Panagora Asset Management Inc. raised its stake in shares of Boeing by 23.3% in the first quarter. Panagora Asset Management Inc. now owns 1,139,382 shares of the aircraft producer’s stock worth $144,633,000 after buying an additional 215,276 shares during the period. Rothschild Investment Corp IL increased its position in shares of Boeing by 2.6% in the second quarter. Rothschild Investment Corp IL now owns 90,321 shares of the aircraft producer’s stock worth $11,730,000 after buying an additional 2,250 shares in the last quarter. First Quadrant L P CA increased its position in shares of Boeing by 991.8% in the second quarter. First Quadrant L P CA now owns 133,200 shares of the aircraft producer’s stock worth $17,299,000 after buying an additional 121,000 shares in the last quarter. Heritage Investors Management Corp increased its position in shares of Boeing by 5.2% in the second quarter. Heritage Investors Management Corp now owns 115,504 shares of the aircraft producer’s stock worth $15,001,000 after buying an additional 5,659 shares in the last quarter. Finally, Scopia Capital Management LP bought a new position in shares of Boeing during the first quarter worth approximately $38,707,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) opened at 131.78 on Friday. The firm’s 50-day moving average price is $131.66 and its 200 day moving average price is $130.78. Boeing Co. has a 12-month low of $102.10 and a 12-month high of $150.59. The stock has a market capitalization of $82.21 billion, a P/E ratio of 23.72 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 for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. Boeing’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Boeing Co. will post $6.29 EPS for the current fiscal year.
The firm also recently declared 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. The ex-dividend date was Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.31%. Boeing’s dividend payout ratio is 80.15%.
BA has been the subject of a number of research analyst reports. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $148.00 price target on shares of Boeing in a report on Friday. Drexel Hamilton reaffirmed a “buy” rating and issued a $158.00 price target on shares of Boeing in a report on Friday, July 15th. Goldman Sachs Group Inc. set a $101.00 price target on Boeing and gave the company a “sell” rating in a report on Tuesday, May 31st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $160.00 price target on shares of Boeing in a report on Monday, June 20th. Finally, Canaccord Genuity upped their price target on Boeing from $140.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $147.23.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Randall L. Stephenson bought 1,871 shares of the stock in a transaction on Monday, August 1st. The stock was purchased at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the purchase, the director now directly owns 3,721 shares of the company’s stock, valued at $498,204.69. The disclosure for this purchase can be found here. 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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