Starfire Investment Advisers Inc. bought a new stake in Boeing Co (NYSE:BA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 839 shares of the aircraft producer’s stock, valued at approximately $213,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Boeing by 1.0% in the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after purchasing an additional 407,511 shares during the last quarter. Janus Henderson Group PLC grew its position in Boeing by 7,215.0% during the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after acquiring an additional 4,852,679 shares during the period. Schwab Charles Investment Management Inc. grew its position in Boeing by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after acquiring an additional 123,420 shares during the period. LSV Asset Management grew its position in Boeing by 0.7% during the second quarter. LSV Asset Management now owns 3,006,858 shares of the aircraft producer’s stock valued at $594,606,000 after acquiring an additional 21,804 shares during the period. Finally, Legal & General Group Plc grew its position in Boeing by 9.3% during the second quarter. Legal & General Group Plc now owns 2,906,822 shares of the aircraft producer’s stock valued at $574,841,000 after acquiring an additional 246,578 shares during the period. Hedge funds and other institutional investors own 70.84% of the company’s stock.
A number of research firms have issued reports on BA. Buckingham Research reissued a “hold” rating and set a $203.00 price target on shares of Boeing in a research report on Friday, December 22nd. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Sanford C. Bernstein reissued an “outperform” rating and set a $303.00 price target (up previously from $274.00) on shares of Boeing in a research report on Wednesday, September 20th. They noted that the move was a valuation call. ValuEngine downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Cowen reissued a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Boeing in a research report on Friday, September 22nd. Eleven 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 an average price target of $273.53.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. The company had revenue of $24.31 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $3.51 earnings per share. research analysts expect that Boeing Co will post 10.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.31%. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is currently 52.25%.
Boeing declared that its Board of Directors has approved a share repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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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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