ST Germain D J Co. Inc. grew its position in shares of Boeing Co (NYSE:BA) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,588 shares of the aircraft producer’s stock after buying an additional 260 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Boeing were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Boeing by 12.6% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,130 shares of the aircraft producer’s stock worth $1,792,000 after purchasing an additional 1,130 shares during the period. Colony Group LLC raised its holdings in shares of Boeing by 0.4% in the 1st quarter. Colony Group LLC now owns 56,233 shares of the aircraft producer’s stock worth $9,945,000 after purchasing an additional 241 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Boeing by 13.3% in the 1st quarter. IHT Wealth Management LLC now owns 1,986 shares of the aircraft producer’s stock worth $352,000 after purchasing an additional 233 shares during the period. Chemung Canal Trust Co. raised its holdings in shares of Boeing by 1.9% in the 1st quarter. Chemung Canal Trust Co. now owns 24,438 shares of the aircraft producer’s stock worth $4,323,000 after purchasing an additional 449 shares during the period. Finally, Bath Savings Trust Co raised its holdings in shares of Boeing by 100.9% in the 2nd quarter. Bath Savings Trust Co now owns 2,351 shares of the aircraft producer’s stock worth $465,000 after purchasing an additional 1,181 shares during the period. 70.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Wells Fargo & Co reiterated a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of Boeing in a research note on Wednesday, September 20th. Zacks Investment Research lowered shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Jefferies Group reiterated a “buy” rating and issued a $339.00 price objective on shares of Boeing in a research note on Monday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $303.00 price objective (up from $274.00) on shares of Boeing in a research note on Wednesday, September 20th. They noted that the move was a valuation call. Finally, Vetr lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $267.03 price objective for the company. in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Boeing has a consensus rating of “Hold” and a consensus price target of $275.90.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. The firm had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.51 EPS. sell-side analysts anticipate that Boeing Co will post 10.14 earnings per share for the current fiscal year.
Boeing declared that its board has approved a share repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is 52.25%.
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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