Pinnacle Holdings LLC reduced its position in shares of Boeing Co (NYSE:BA) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,677 shares of the aircraft producer’s stock after selling 207 shares during the quarter. Boeing comprises 2.7% of Pinnacle Holdings LLC’s holdings, making the stock its 2nd biggest position. Pinnacle Holdings LLC’s holdings in Boeing were worth $7,163,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. NuWave Investment Management LLC increased its stake in shares of Boeing by 554.5% in the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. Nordea Investment Management AB increased its stake in 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 purchasing an additional 41 shares in the last quarter. Guidant Wealth Advisors bought a new stake in Boeing during the 2nd quarter worth approximately $28,000. Clarfeld Financial Advisors LLC bought a new stake in Boeing during the 4th quarter worth approximately $40,000. Finally, Next Capital Management LLC bought a new stake in Boeing during the 2nd quarter worth approximately $42,000. 67.98% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on BA shares. UBS Group set a $470.00 target price on Boeing and gave the stock a “buy” rating in a research note on Monday. Goldman Sachs Group reissued a “neutral” rating and set a $375.00 target price on shares of Boeing in a research note on Friday, July 12th. Bank of America set a $420.00 target price on Boeing and gave the stock a “hold” rating in a research note on Thursday, June 27th. Citigroup set a $430.00 target price on Boeing and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley set a $500.00 target price on Boeing and gave the stock a “buy” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $402.65.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The firm had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same quarter in the prior year, the firm posted $3.33 EPS. The business’s revenue was down 35.1% on a year-over-year basis. Equities research analysts anticipate that Boeing Co will post 4.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 9th were given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is currently 51.34%.
Boeing Company 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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