Mackenzie Financial Corp increased its holdings in shares of Boeing Co (NYSE:BA) by 118.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,473 shares of the aircraft producer’s stock after purchasing an additional 121,917 shares during the quarter. Mackenzie Financial Corp’s holdings in Boeing were worth $72,393,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ironwood Financial llc acquired a new stake in Boeing during the 4th quarter worth $32,000. Proffitt & Goodson Inc. grew its position in Boeing by 1,371.4% during the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock worth $33,000 after purchasing an additional 96 shares during the last quarter. 1 North Wealth Services LLC purchased a new position in Boeing during the 4th quarter worth $40,000. Contravisory Investment Management Inc. increased its stake in Boeing by 159.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock valued at $45,000 after purchasing an additional 86 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new position in Boeing in the fourth quarter valued at $60,000. 69.77% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP J Michael Luttig sold 8,500 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $410.46, for a total value of $3,488,910.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Heidi B. Capozzi sold 2,916 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $410.84, for a total transaction of $1,198,009.44. The disclosure for this sale can be found here. In the last three months, insiders sold 72,247 shares of company stock valued at $28,922,977. 0.23% of the stock is owned by corporate insiders.
Shares of BA stock opened at $391.93 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 25.99. The company has a market cap of $221.24 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.52 by $0.96. The firm had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 earnings per share. On average, equities research analysts expect that Boeing Co will post 20.11 earnings per share for the current year.
Boeing declared that its Board of Directors has authorized a stock repurchase program on Monday, December 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
BA has been the subject of several recent research reports. Cowen reiterated a “buy” rating and set a $445.00 target price on shares of Boeing in a research note on Tuesday, December 18th. Credit Suisse Group restated a “buy” rating and issued a $456.00 price target on shares of Boeing in a research report on Tuesday, December 18th. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. UBS Group reaffirmed a “buy” rating on shares of Boeing in a research report on Wednesday, January 9th. Finally, Morgan Stanley upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $400.00 to $450.00 in a research note on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. Boeing has a consensus rating of “Buy” and an average price target of $407.00.
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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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