Profund Advisors LLC lowered its stake in Boeing Company (The) (NYSE:BA) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,138 shares of the aircraft producer’s stock after selling 640 shares during the period. Profund Advisors LLC’s holdings in Boeing were worth $3,982,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Intellectus Partners LLC increased its holdings in Boeing by 4.4% during the 1st quarter. Intellectus Partners LLC now owns 3,288 shares of the aircraft producer’s stock valued at $582,000 after purchasing an additional 138 shares during the period. Segment Wealth Management LLC increased its holdings in Boeing by 1.1% during the 1st quarter. Segment Wealth Management LLC now owns 7,526 shares of the aircraft producer’s stock valued at $1,331,000 after purchasing an additional 80 shares during the period. Stevens Capital Management LP purchased a new position in Boeing during the 1st quarter valued at about $3,121,000. Keystone Financial Planning Inc. increased its holdings in Boeing by 0.6% during the 1st quarter. Keystone Financial Planning Inc. now owns 43,065 shares of the aircraft producer’s stock valued at $7,616,000 after purchasing an additional 276 shares during the period. Finally, Buckingham Asset Management LLC increased its holdings in Boeing by 0.5% during the 1st quarter. Buckingham Asset Management LLC now owns 13,965 shares of the aircraft producer’s stock valued at $2,470,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 70.77% of the company’s stock.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Cowen reiterated a “buy” rating and set a $315.00 target price on shares of Boeing in a report on Thursday, October 26th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Nord/LB set a $250.00 target price on Boeing and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Finally, Sanford C. Bernstein upped their target price on Boeing from $303.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $257.81.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.07. The firm had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.51 EPS. sell-side analysts predict that Boeing Company will post 10.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a dividend of $1.42 per share. The ex-dividend date was Thursday, November 9th. This represents a $5.68 annualized dividend and a dividend yield of 2.09%. Boeing’s payout ratio is 52.21%.
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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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