Bowling Portfolio Management LLC lowered its stake in Boeing (NYSE:BA) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,577 shares of the aircraft producer’s stock after selling 566 shares during the period. Boeing accounts for 1.0% of Bowling Portfolio Management LLC’s portfolio, making the stock its 8th largest position. Bowling Portfolio Management LLC’s holdings in Boeing were worth $7,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stonehearth Capital Management LLC bought a new stake in Boeing during the 4th quarter worth about $105,000. Solaris Asset Management LLC bought a new stake in Boeing during the 4th quarter worth about $111,000. Lipe & Dalton bought a new stake in Boeing during the 3rd quarter worth about $100,000. Burt Wealth Advisors acquired a new position in shares of Boeing during the 3rd quarter worth about $100,000. Finally, Clear Perspective Advisors LLC increased its stake in shares of Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares during the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on BA. Morgan Stanley set a $373.00 price objective on shares of Boeing and gave the stock a “hold” rating in a research note on Thursday, March 22nd. Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price target on the stock. in a research note on Thursday, March 8th. Societe Generale set a $373.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Buckingham Research set a $289.00 target price on shares of Boeing and gave the stock a “hold” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, March 14th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $365.99.
In other news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.
Shares of BA traded down $5.44 during trading hours on Monday, reaching $322.44. 5,023,189 shares of the stock traded hands, compared to its average volume of 6,219,732. The firm has a market capitalization of $192,954.20, a P/E ratio of 26.78, a PEG ratio of 1.70 and a beta of 1.40. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. Boeing has a 52 week low of $175.47 and a 52 week high of $371.60.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. equities research analysts expect that Boeing will post 14.05 earnings per share for the current year.
Boeing declared that its Board of Directors has approved a stock repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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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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