Edge Asset Management Inc. reduced its position in Boeing Co. (NYSE:BA) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 633,492 shares of the aircraft producer’s stock after selling 21,905 shares during the period. Edge Asset Management Inc. owned about 0.10% of Boeing worth $82,272,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Boeing during the second quarter valued at $168,000. Loomis Sayles & Co. L P raised its stake in Boeing by 82.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,513 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 682 shares in the last quarter. CWM LLC raised its stake in Boeing by 23.6% in the second quarter. CWM LLC now owns 1,477 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 282 shares in the last quarter. Hudock Capital Group LLC raised its stake in Boeing by 4.2% in the second quarter. Hudock Capital Group LLC now owns 1,553 shares of the aircraft producer’s stock valued at $201,000 after buying an additional 62 shares in the last quarter. Finally, Maryland Capital Management bought a new stake in Boeing during the first quarter valued at $203,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Boeing Co. (NYSE:BA) traded up 0.93% on Thursday, hitting $131.77. 1,491,086 shares of the company traded hands. Boeing Co. has a 1-year low of $102.10 and a 1-year high of $150.59. The firm has a market capitalization of $82.20 billion, a PE ratio of 23.72 and a beta of 1.06. The firm’s 50 day moving average price is $131.65 and its 200 day moving average price is $130.70.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.48. The business had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Equities research analysts predict that Boeing Co. will post $6.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were given a $1.09 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $4.36 annualized dividend and a yield of 3.34%. Boeing’s payout ratio is 80.15%.
A number of analysts have commented on the stock. Drexel Hamilton restated a “buy” rating and set a $158.00 price target 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 company a “sell” rating in a research note on Tuesday, May 31st. Deutsche Bank AG restated a “buy” rating and set a $160.00 price target on shares of Boeing in a research note on Monday, June 20th. Canaccord Genuity restated a “hold” rating and set a $140.00 price target on shares of Boeing in a research note on Tuesday, May 31st. Finally, Bank of America Corp. restated an “underperform” rating and set a $125.00 price target on shares of Boeing in a research note on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. Boeing currently has a consensus 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 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 of the company’s stock, valued at approximately $498,204.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the firm’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 disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
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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