Cullen Frost Bankers Inc. trimmed its position in Boeing Co (NYSE:BA) by 6.7% during the third quarter, Holdings Channel reports. The institutional investor owned 214,457 shares of the aircraft producer’s stock after selling 15,315 shares during the quarter. Boeing makes up about 1.8% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 6th biggest holding. Cullen Frost Bankers Inc.’s holdings in Boeing were worth $54,517,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Janus Henderson Group PLC lifted 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 purchasing an additional 4,852,679 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of 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 during the period. Koch Industries Inc. lifted its stake in shares of 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 during the period. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Boeing by 28,537.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after purchasing an additional 779,936 shares during the period. Finally, APG Asset Management N.V. lifted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 70.84% of the company’s stock.
BA has been the topic of a number of analyst reports. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target on the stock in a research note on Tuesday, January 2nd. Canaccord Genuity raised their price objective on Boeing from $245.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Vetr downgraded Boeing from a “hold” rating to a “sell” rating and set a $253.54 price objective on the stock. in a research note on Thursday, October 12th. Finally, Jefferies Group raised their price objective on Boeing from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, September 22nd. One equities research 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. Boeing presently has an average rating of “Hold” and an average target price of $277.79.
Boeing (NYSE:BA) last released its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.07. The firm had revenue of $24.31 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 EPS. equities analysts forecast that Boeing Co will post 10.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is 52.25%.
Boeing declared that its board has initiated a share buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are 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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