Park National Corp OH lessened its position in shares of Boeing Co (NYSE:BA) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,141 shares of the aircraft producer’s stock after selling 276 shares during the period. Park National Corp OH’s holdings in Boeing were worth $2,948,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. bought a new stake in shares of Boeing in the 2nd quarter worth approximately $101,000. Interactive Financial Advisors bought a new stake in shares of Boeing in the 3rd quarter worth approximately $112,000. Rational Advisors LLC lifted its holdings in shares of Boeing by 159.5% in the 3rd quarter. Rational Advisors LLC now owns 327 shares of the aircraft producer’s stock worth $122,000 after purchasing an additional 201 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Boeing in the 2nd quarter worth approximately $125,000. Finally, TLP Group LLC bought a new stake in shares of Boeing in the 3rd quarter worth approximately $139,000. 69.61% of the stock is currently owned by institutional investors.
In other news, SVP Diana L. Sands sold 5,000 shares of Boeing stock in a transaction on Monday, October 29th. The stock was sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jenette E. Ramos sold 1,640 shares of Boeing stock in a transaction on Friday, November 9th. The shares were sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.
BA has been the topic of several recent research reports. Cowen reissued a “buy” rating and issued a $445.00 price target on shares of Boeing in a report on Tuesday, November 13th. Jefferies Financial Group set a $420.00 price target on Boeing and gave the stock a “buy” rating in a report on Tuesday, November 13th. Societe Generale set a $409.00 price target on Boeing and gave the stock a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $407.00 price target on the stock in a report on Friday, October 26th. Finally, Tigress Financial reissued a “buy” rating on shares of Boeing in a report on Monday, November 26th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $410.55.
Shares of Boeing stock opened at $357.90 on Wednesday. The firm has a market cap of $207.12 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. Boeing Co has a 1-year low of $292.47 and a 1-year high of $394.28.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.11. The firm had revenue of $25.15 billion for the quarter, compared to the consensus estimate of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 EPS. On average, equities research analysts expect that Boeing Co will post 15.06 earnings per share for the current fiscal year.
Boeing declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 17th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be paid a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $8.22 annualized dividend and a yield of 2.30%. This is an increase from Boeing’s previous quarterly dividend of $1.71. Boeing’s payout ratio is presently 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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