BB&T Securities LLC lessened its stake in shares of Boeing Co (NYSE:BA) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,074 shares of the aircraft producer’s stock after selling 6,133 shares during the period. BB&T Securities LLC’s holdings in Boeing were worth $12,220,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Vanguard Group Inc. raised its holdings in Boeing by 1.0% in 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 buying an additional 407,511 shares during the period. Jennison Associates LLC raised its holdings in Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares during the period. Janus Henderson Group PLC raised its holdings 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 period. Ameriprise Financial Inc. raised its holdings in Boeing by 13.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after buying an additional 402,240 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Boeing by 2.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock valued at $801,586,000 after buying an additional 86,722 shares during the period. Institutional investors and hedge funds own 70.78% of the company’s stock.
Several analysts recently issued reports on the stock. Wells Fargo & Co restated a “market perform” rating and issued a $365.00 price objective (up from $330.00) on shares of Boeing in a report on Thursday, February 1st. Vetr upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $343.92 price objective on the stock in a report on Monday. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Buckingham Research set a $289.00 price objective on shares of Boeing and gave the company a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of Boeing to $378.00 and gave the company a “sector perform” rating in a report on Thursday, February 1st. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $353.24.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The business had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. research analysts predict that Boeing Co will post 14.01 EPS for the current year.
Boeing declared that its Board of Directors has approved 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 purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed 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 an increase from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.06%. Boeing’s payout ratio is currently 42.20%.
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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