Tocqueville Asset Management L.P. lessened its stake in Boeing Co (NYSE:BA) by 21.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,730 shares of the aircraft producer’s stock after selling 22,900 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Boeing were worth $31,207,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. NuWave Investment Management LLC grew its position in shares of Boeing by 554.5% during the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after buying an additional 61 shares during the period. Nordea Investment Management AB grew its position in shares of Boeing by 128.1% during the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after buying an additional 41 shares during the period. Guidant Wealth Advisors acquired a new stake in shares of Boeing during the 2nd quarter worth approximately $28,000. Next Capital Management LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $32,000. Finally, Clarfeld Financial Advisors LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
BA traded down $4.79 during trading on Monday, reaching $332.77. The company had a trading volume of 2,343,464 shares, compared to its average volume of 5,053,301. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01. The company’s fifty day moving average price is $356.53. The stock has a market capitalization of $189.27 billion, a P/E ratio of 20.78, a P/E/G ratio of 10.25 and a beta of 1.27.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be paid a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s payout ratio is currently 51.34%.
Several research analysts recently weighed in on the stock. Wolfe Research lowered shares of Boeing from an “outperform” rating to a “peer perform” rating and reduced their price objective for the stock from $404.00 to $393.00 in a research note on Thursday, July 25th. Bank of America set a $420.00 price objective on shares of Boeing and gave the stock a “hold” rating in a research note on Thursday, June 27th. UBS Group reissued a “buy” rating and set a $480.00 price objective (down previously from $500.00) on shares of Boeing in a research note on Wednesday, July 10th. Berenberg Bank reissued a “buy” rating and set a $400.00 price objective on shares of Boeing in a research note on Tuesday, August 6th. Finally, Buckingham Research lifted their price objective on shares of Boeing from $370.00 to $395.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $403.10.
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.
Recommended Story: What are gap-down stocks?
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.