Smith Asset Management Group LP increased its position in Boeing Co (NYSE:BA) by 545.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,625 shares of the aircraft producer’s stock after purchasing an additional 272,655 shares during the period. Boeing makes up 2.7% of Smith Asset Management Group LP’s investment portfolio, making the stock its 4th largest holding. Smith Asset Management Group LP’s holdings in Boeing were worth $82,017,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Boeing by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after purchasing an additional 407,511 shares in the last quarter. Janus Henderson Group PLC raised its position in 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 last quarter. American Century Companies Inc. raised its position in Boeing by 15.5% in the 3rd quarter. American Century Companies Inc. now owns 3,106,855 shares of the aircraft producer’s stock valued at $789,794,000 after buying an additional 417,793 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in 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 last quarter. Finally, LSV Asset Management raised its position in 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 last quarter. Institutional investors own 70.84% of the company’s stock.
A number of equities research analysts recently commented on the company. Credit Suisse Group reissued an “outperform” rating and issued a $375.00 price target (up from $310.00) on shares of Boeing in a research report on Friday. They noted that the move was a valuation call. Vetr lowered 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. JPMorgan Chase & Co. increased their price target on Boeing from $325.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Group reissued a “buy” rating and issued a $339.00 price target on shares of Boeing in a research report on Monday, January 8th. Finally, Zacks Investment Research lowered Boeing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $280.74.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. During the same period last year, the firm posted $3.51 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. sell-side analysts predict that Boeing Co will post 10.13 earnings per share for the current year.
Boeing announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 11th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a dividend yield of 2.03%. Boeing’s dividend payout ratio (DPR) is currently 52.21%.
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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