State of Wisconsin Investment Board boosted its holdings in shares of Boeing Co (NYSE:BA) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,800 shares of the aircraft producer’s stock after acquiring an additional 72,143 shares during the period. State of Wisconsin Investment Board’s holdings in Boeing were worth $170,016,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after acquiring an additional 407,511 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of 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 buying an additional 4,852,679 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Boeing by 4.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after buying an additional 123,420 shares during the period. LSV Asset Management grew its stake in shares of Boeing by 0.7% in the 2nd quarter. LSV Asset Management now owns 3,006,858 shares of the aircraft producer’s stock valued at $594,606,000 after buying an additional 21,804 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Boeing by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 2,906,822 shares of the aircraft producer’s stock valued at $574,841,000 after buying an additional 246,578 shares during the period. 70.84% of the stock is owned by institutional investors.
Boeing Co (NYSE BA) opened at $320.26 on Thursday. 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 firm has a market cap of $190,740.00, a P/E ratio of 29.46, a P/E/G ratio of 2.16 and a beta of 1.23. Boeing Co has a 1 year low of $156.67 and a 1 year high of $322.15.
The business 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. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is presently 52.25%.
Boeing declared that its board has authorized a share buyback program on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several analysts have recently weighed in on BA shares. Royal Bank of Canada set a $290.00 price target on shares of Boeing and gave the company a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group increased their price target on shares of Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Canaccord Genuity reissued a “hold” rating and issued a $235.00 price target (up previously from $215.00) on shares of Boeing in a research note on Sunday, September 17th. JPMorgan Chase & Co. set a $325.00 price target on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $289.00 price target for the company in a research note on Tuesday, October 10th. One equities research 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. The company has an average rating of “Hold” and an average price target of $277.79.
Boeing Company Profile
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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