Levy Harkins & Co. Inc. lowered its stake in Boeing Co (NYSE:BA) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 126,060 shares of the aircraft producer’s stock after selling 512 shares during the quarter. Boeing accounts for about 10.5% of Levy Harkins & Co. Inc.’s portfolio, making the stock its biggest holding. Levy Harkins & Co. Inc.’s holdings in Boeing were worth $32,046,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in Boeing by 7,215.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in Boeing by 18,613.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,342,129 shares of the aircraft producer’s stock valued at $6,787,000 after purchasing an additional 1,334,957 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Boeing by 66.5% in the 1st quarter. AQR Capital Management LLC now owns 2,627,684 shares of the aircraft producer’s stock valued at $464,732,000 after purchasing an additional 1,049,546 shares in the last quarter. Koch Industries Inc. lifted its holdings in Boeing by 61,128.7% in the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after purchasing an additional 848,467 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Boeing by 87.8% in the 3rd quarter. APG Asset Management N.V. now owns 1,382,727 shares of the aircraft producer’s stock valued at $351,503,000 after purchasing an additional 646,500 shares in the last quarter. 70.84% of the stock is currently owned by hedge funds and other institutional investors.
Boeing Co (BA) opened at $295.36 on Wednesday. Boeing Co has a fifty-two week low of $154.96 and a fifty-two week high of $299.33. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54. The company has a market capitalization of $175,755.22, a price-to-earnings ratio of 27.15, a PEG ratio of 2.24 and a beta of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is presently 52.21%.
Boeing announced that its Board of Directors has initiated a share repurchase program on Monday, December 11th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of research analysts have weighed in on BA shares. Royal Bank of Canada set a $290.00 price objective on Boeing and gave the company a “hold” rating in a report on Wednesday, November 15th. Jefferies Group raised their price objective on Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Canaccord Genuity restated a “hold” rating and issued a $235.00 price objective (up previously from $215.00) on shares of Boeing in a report on Sunday, September 17th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a report on Tuesday, October 10th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $273.53.
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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