Wagner Bowman Management Corp reduced its holdings in Boeing Co (NYSE:BA) by 2.5% during the 2nd quarter, Holdings Channel reports. The fund owned 6,004 shares of the aircraft producer’s stock after selling 155 shares during the quarter. Wagner Bowman Management Corp’s holdings in Boeing were worth $2,185,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in BA. Minneapolis Portfolio Management Group LLC raised its position in Boeing by 187.8% in the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 97,304 shares of the aircraft producer’s stock worth $35,420,000 after purchasing an additional 63,494 shares during the last quarter. Advanced Asset Management Advisors Inc boosted its position in Boeing by 0.5% in the 2nd quarter. Advanced Asset Management Advisors Inc now owns 11,150 shares of the aircraft producer’s stock worth $4,059,000 after purchasing an additional 50 shares in the last quarter. Clarius Group LLC boosted its position in Boeing by 22.9% in the 2nd quarter. Clarius Group LLC now owns 4,814 shares of the aircraft producer’s stock worth $1,752,000 after purchasing an additional 897 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its position in Boeing by 2.8% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 11,493 shares of the aircraft producer’s stock worth $4,184,000 after purchasing an additional 315 shares in the last quarter. Finally, Jacobsen Capital Management purchased a new stake in Boeing in the 2nd quarter worth approximately $218,000. 68.65% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on BA. Citigroup set a $430.00 price objective on Boeing and gave the stock a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research upgraded Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price objective on the stock in a research report on Monday, June 10th. Bank of America set a $420.00 price objective on Boeing and gave the stock a “hold” rating in a research report on Thursday, June 27th. TheStreet lowered Boeing from an “a+” rating to a “c+” rating in a research report on Wednesday, April 24th. Finally, Buckingham Research upped their price objective on Boeing from $370.00 to $395.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Boeing has an average rating of “Hold” and a consensus price target of $403.10.
Shares of NYSE:BA traded up $1.75 during midday trading on Friday, reaching $329.76. 2,071,043 shares of the company’s stock traded hands, compared to its average volume of 4,960,387. Boeing Co has a 1 year low of $292.47 and a 1 year high of $446.01. The company has a market cap of $187.30 billion, a P/E ratio of 20.60, a PEG ratio of 10.14 and a beta of 1.27. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The company has a fifty day simple moving average of $351.59 and a two-hundred day simple moving average of $372.84.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $15.05 billion. During the same quarter last year, the firm posted $3.33 EPS. The business’s revenue was down 35.1% on a year-over-year basis. As a group, research analysts forecast that Boeing Co will post 3.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a dividend of $2.055 per share. The ex-dividend date is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.49%. Boeing’s dividend payout ratio (DPR) is 51.34%.
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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