Commonwealth Bank of Australia lifted its holdings in Boeing Co (NYSE:BA) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 54,650 shares of the aircraft producer’s stock after purchasing an additional 1,883 shares during the quarter. Commonwealth Bank of Australia’s holdings in Boeing were worth $13,889,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Lipe & Dalton acquired a new position in Boeing during the 3rd quarter worth approximately $100,000. Burt Wealth Advisors acquired a new position in Boeing during the 3rd quarter worth approximately $100,000. Clear Perspective Advisors LLC boosted its position in Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after acquiring an additional 135 shares during the last quarter. Vantage Investment Advisors LLC boosted its position in Boeing by 11.1% during the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after acquiring an additional 84 shares during the last quarter. Finally, CWH Capital Management Inc. acquired a new position in Boeing during the 2nd quarter worth approximately $134,000. Institutional investors and hedge funds own 70.78% of the company’s stock.
Shares of Boeing Co (BA) opened at $348.12 on Thursday. Boeing Co has a 12 month low of $163.69 and a 12 month high of $361.45. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. The firm has a market capitalization of $203,038.67, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.87 and a beta of 1.44.
Boeing announced that its board has authorized a share repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is 42.17%.
A number of equities analysts have weighed in on the company. Bank of America reaffirmed a “buy” rating and set a $470.00 price target (up previously from $395.00) on shares of Boeing in a research report on Thursday, February 1st. Credit Suisse Group set a $443.00 price target on Boeing and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Societe Generale set a $373.00 price target on Boeing and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Canaccord Genuity upped their price objective on Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Finally, Sanford C. Bernstein upped their price objective on Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $349.00.
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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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