State Board of Administration of Florida Retirement System decreased its position in shares of Boeing Co (NYSE:BA) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 712,404 shares of the aircraft producer’s stock after selling 17,726 shares during the quarter. Boeing makes up 0.7% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 25th largest holding. State Board of Administration of Florida Retirement System owned about 0.13% of Boeing worth $259,322,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of BA. NuWave Investment Management LLC raised its stake in shares of Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares during the last quarter. Guidant Wealth Advisors purchased a new position in shares of Boeing in the second quarter worth about $28,000. Next Capital Management LLC purchased a new position in shares of Boeing in the fourth quarter worth about $32,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in shares of Boeing in the fourth quarter worth about $40,000. 67.81% of the stock is currently owned by institutional investors.
BA stock traded down $2.90 during trading on Tuesday, hitting $330.88. 802,534 shares of the company traded hands, compared to its average volume of 4,738,884. The stock’s 50-day simple moving average is $348.86 and its 200 day simple moving average is $372.00. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.03 and a quick ratio of 0.29. The company has a market cap of $185.95 billion, a PE ratio of 20.67, a P/E/G ratio of 9.78 and a beta of 1.27. Boeing Co has a 1 year low of $292.47 and a 1 year high of $446.01.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period last year, the business earned $3.33 earnings per share. Research analysts expect that Boeing Co will post 4.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be given a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio is currently 51.34%.
Several research analysts have recently issued reports on the company. Berenberg Bank restated a “buy” rating and issued a $400.00 price objective on shares of Boeing in a research note on Tuesday, August 6th. UBS Group restated a “buy” rating and issued a $480.00 price objective (down from $500.00) on shares of Boeing in a research note on Wednesday, July 10th. Zacks Investment Research upgraded Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price objective for the company in a research note on Monday, June 10th. Buckingham Research raised their price objective on Boeing from $370.00 to $395.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, TheStreet cut Boeing from an “a+” rating to a “c+” rating in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $403.10.
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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