Boeing Co (BA) Holdings Trimmed by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. lessened its stake in shares of Boeing Co (NYSE:BA) by 7.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,171 shares of the aircraft producer’s stock after selling 915 shares during the quarter. Boeing comprises about 1.2% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 28th biggest position. Stonebridge Capital Management Inc.’s holdings in Boeing were worth $3,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BA. Riverpoint Wealth Management Holdings LLC boosted its position in shares of Boeing by 0.3% during the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after acquiring an additional 4 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Boeing by 0.3% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock valued at $421,000 after acquiring an additional 6 shares during the last quarter. Accredited Investors Inc. boosted its position in shares of Boeing by 0.4% during the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock valued at $325,000 after acquiring an additional 6 shares during the last quarter. Silicon Valley Capital Partners boosted its position in shares of Boeing by 0.7% during the 2nd quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock valued at $245,000 after acquiring an additional 9 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in shares of Boeing by 0.4% during the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after acquiring an additional 9 shares during the last quarter. 70.84% of the stock is owned by institutional investors and hedge funds.

Shares of Boeing Co (BA) opened at $318.43 on Wednesday. The firm has a market capitalization of $189,650.00, a P/E ratio of 29.29, a P/E/G ratio of 2.16 and a beta of 1.23. Boeing Co has a 12-month low of $156.67 and a 12-month high of $319.91. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping the Zacks’ 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%. Boeing’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 EPS. analysts expect that Boeing Co will post 10.14 earnings per share for the current fiscal year.

Boeing announced that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a $1.71 dividend. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.15%. Boeing’s payout ratio is presently 52.25%.

A number of brokerages have recently issued reports on BA. Vetr downgraded Boeing from a “sell” rating to a “strong sell” rating and set a $279.35 price target for the company. in a research report on Wednesday. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Sanford C. Bernstein reiterated 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 reiterated 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $276.20.

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About Boeing

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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