Financial Counselors Inc. reduced its stake in shares of Boeing Co (NYSE:BA) by 3.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 25,001 shares of the aircraft producer’s stock after selling 885 shares during the period. Financial Counselors Inc.’s holdings in Boeing were worth $8,388,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of BA. Summit Trail Advisors LLC boosted its position in shares of Boeing by 33,457.1% during the 1st quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock worth $3,701,000 after purchasing an additional 3,689,648 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Boeing by 33,433.9% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock worth $7,169,000 after purchasing an additional 2,402,561 shares in the last quarter. Suvretta Capital Management LLC purchased a new stake in shares of Boeing during the 1st quarter worth $228,424,000. Fred Alger Management Inc. boosted its position in shares of Boeing by 85.0% during the 2nd quarter. Fred Alger Management Inc. now owns 1,134,934 shares of the aircraft producer’s stock worth $380,782,000 after purchasing an additional 521,442 shares in the last quarter. Finally, Mackay Shields LLC purchased a new stake in shares of Boeing during the 1st quarter worth $100,442,000. Institutional investors own 69.74% of the company’s stock.
Several research firms recently commented on BA. UBS Group began coverage on shares of Boeing in a research report on Wednesday, August 15th. They issued a “buy” rating and a $515.00 price objective on the stock. Robert W. Baird reiterated a “buy” rating and issued a $450.00 price objective on shares of Boeing in a research report on Monday, August 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 price objective on shares of Boeing in a research report on Sunday, July 29th. Credit Suisse Group reiterated a “buy” rating and issued a $455.00 price objective on shares of Boeing in a research report on Thursday, July 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 price objective on shares of Boeing in a research report on Thursday, July 26th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $400.60.
NYSE:BA opened at $359.80 on Friday. The stock has a market capitalization of $203.04 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.76 and a beta of 1.44. The company has a debt-to-equity ratio of -7.65, a quick ratio of 0.32 and a current ratio of 1.11. Boeing Co has a 12-month low of $246.21 and a 12-month high of $374.48.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.12). The firm had revenue of $24.26 billion during the quarter, compared to analysts’ expectations of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. Boeing’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.55 earnings per share. analysts forecast that Boeing Co will post 14.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 10th were issued a $1.71 dividend. The ex-dividend date was Thursday, August 9th. This represents a $6.84 dividend on an annualized basis and a yield of 1.90%. Boeing’s dividend payout ratio (DPR) is 56.81%.
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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