Minneapolis Portfolio Management Group LLC lifted its position in shares of Boeing Co (NYSE:BA) by 187.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,304 shares of the aircraft producer’s stock after buying an additional 63,494 shares during the quarter. Boeing comprises 4.2% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 10th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Boeing were worth $35,420,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC raised its stake in Boeing by 36,928.2% in the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock valued at $623,555,000 after purchasing an additional 6,218,711 shares in the last quarter. FMR LLC grew its position in Boeing by 26.5% in the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after acquiring an additional 2,311,630 shares during the last quarter. Two Sigma Advisers LP grew its position in Boeing by 33.6% in the fourth quarter. Two Sigma Advisers LP now owns 995,560 shares of the aircraft producer’s stock valued at $321,068,000 after acquiring an additional 250,600 shares during the last quarter. Mackay Shields LLC bought a new position in Boeing in the fourth quarter valued at about $77,540,000. Finally, SG Americas Securities LLC grew its position in Boeing by 378.0% in the second quarter. SG Americas Securities LLC now owns 302,625 shares of the aircraft producer’s stock valued at $110,159,000 after acquiring an additional 239,316 shares during the last quarter. 68.65% of the stock is owned by institutional investors.
A number of research analysts have issued reports on BA shares. Morgan Stanley set a $500.00 target price on Boeing and gave the company a “buy” rating in a research report on Friday, July 19th. TheStreet cut Boeing from an “a+” rating to a “c+” rating in a report on Wednesday, April 24th. Barclays cut Boeing from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $417.00 to $367.00 in a report on Tuesday, May 7th. UBS Group restated a “buy” rating and set a $480.00 price target (down from $500.00) on shares of Boeing in a report on Wednesday, July 10th. Finally, Bank of America set a $420.00 price target on Boeing and gave the stock a “hold” rating in a report on Thursday, June 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $403.10.
BA stock traded up $1.75 during trading on Friday, hitting $329.76. The company had a trading volume of 2,071,043 shares, compared to its average volume of 4,960,387. The business has a 50-day moving average of $351.59 and a 200-day moving average of $372.84. Boeing Co has a one year low of $292.47 and a one year high of $446.01. The stock has a market cap of $187.30 billion, a PE ratio of 20.60, a PEG ratio of 10.14 and a beta of 1.27. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same period in the prior year, the business posted $3.33 earnings per share. The firm’s revenue was down 35.1% on a year-over-year basis. Research analysts forecast that Boeing Co will post 3.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be issued a $2.055 dividend. This represents a $8.22 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, August 8th. Boeing’s payout ratio is presently 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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