Tocqueville Asset Management L.P. Has $31.21 Million Holdings in Boeing Co (NYSE:BA)

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.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.05 billion. During the same quarter in the previous year, the firm posted $3.33 earnings per share. The business’s revenue was down 35.1% on a year-over-year basis. On average, research analysts expect that Boeing Co will post 3.98 EPS for the current fiscal year.

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.

Boeing Profile

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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