Cetera Advisor Networks LLC grew its position in shares of Boeing Co (NYSE:BA) by 18.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,766 shares of the aircraft producer’s stock after buying an additional 7,743 shares during the period. Cetera Advisor Networks LLC’s holdings in Boeing were worth $16,048,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ironwood Financial llc purchased a new stake in Boeing during the 4th quarter worth about $32,000. Next Capital Management LLC purchased a new stake in Boeing during the 4th quarter worth about $32,000. Proffitt & Goodson Inc. lifted its holdings in Boeing by 1,371.4% during the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock worth $33,000 after purchasing an additional 96 shares in the last quarter. 1 North Wealth Services LLC purchased a new stake in Boeing during the 4th quarter worth about $40,000. Finally, Contravisory Investment Management Inc. lifted its holdings in Boeing by 159.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock worth $45,000 after purchasing an additional 86 shares in the last quarter. 68.78% of the stock is currently owned by hedge funds and other institutional investors.
BA has been the topic of a number of recent research reports. UBS Group reissued a “buy” rating and set a $525.00 price objective (up previously from $500.00) on shares of Boeing in a report on Thursday, February 28th. Argus increased their price objective on Boeing from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Jefferies Financial Group increased their price objective on Boeing to $448.00 and gave the stock a “buy” rating in a report on Monday, February 4th. JPMorgan Chase & Co. reissued a “buy” rating and set a price objective on shares of Boeing in a report on Wednesday, January 30th. Finally, Citigroup initiated coverage on Boeing in a report on Wednesday, March 27th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $413.01.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.05. The business had revenue of $22.92 billion for the quarter, compared to analyst estimates of $23.04 billion. Boeing had a negative return on equity of 1,857.97% and a net margin of 10.06%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.64 EPS. Research analysts forecast that Boeing Co will post 14.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be paid a $2.055 dividend. The ex-dividend date is Thursday, May 9th. This represents a $8.22 dividend on an annualized basis and a yield of 2.32%. Boeing’s dividend payout ratio is currently 51.34%.
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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