Abbot Financial Management Inc. lessened its stake in Boeing Co (NYSE:BA) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,819 shares of the aircraft producer’s stock after selling 1,310 shares during the quarter. Boeing comprises approximately 2.6% of Abbot Financial Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Abbot Financial Management Inc.’s holdings in Boeing were worth $3,219,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Burt Wealth Advisors acquired a new stake in shares of Boeing during the 3rd quarter worth approximately $100,000. Stonehearth Capital Management LLC acquired a new position in Boeing during the fourth quarter valued at approximately $105,000. Solaris Asset Management LLC acquired a new position in Boeing during the fourth quarter valued at approximately $111,000. Welch Group LLC acquired a new position in Boeing during the fourth quarter valued at approximately $120,000. Finally, SWS Partners acquired a new position in Boeing during the fourth quarter valued at approximately $123,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.
In other Boeing news, EVP J Michael Luttig sold 9,000 shares of the company’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $344.13, for a total transaction of $3,097,170.00. Following the sale, the executive vice president now directly owns 27,878 shares of the company’s stock, valued at $9,593,656.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Heidi B. Capozzi sold 1,132 shares of the company’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $329.84, for a total transaction of $373,378.88. Following the completion of the transaction, the senior vice president now owns 24,416 shares in the company, valued at $8,053,373.44. The disclosure for this sale can be found here. Insiders have sold 12,373 shares of company stock worth $4,233,094 over the last ninety days. Insiders own 0.24% of the company’s stock.
BA has been the subject of a number of analyst reports. Morgan Stanley restated an “equal weight” rating and set a $373.00 price objective (up previously from $340.00) on shares of Boeing in a report on Friday, February 23rd. 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. Nord/LB reaffirmed a “buy” rating and issued a $385.00 price target on shares of Boeing in a research note on Thursday, April 26th. Goldman Sachs Group set a $336.00 price target on shares of Boeing and gave the company a “neutral” rating in a research note on Wednesday, April 25th. Finally, Barclays lifted their price target on shares of Boeing from $388.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Boeing has a consensus rating of “Buy” and an average price target of $376.03.
Shares of BA stock traded down $1.43 during trading on Thursday, reaching $362.42. The company’s stock had a trading volume of 4,039,198 shares, compared to its average volume of 5,293,435. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 8.07. The firm has a market cap of $216.10 billion, a PE ratio of 30.10, a P/E/G ratio of 1.84 and a beta of 1.38. Boeing Co has a one year low of $191.37 and a one year high of $374.48.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 25th. The aircraft producer reported $3.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.59 by $1.05. Boeing had a net margin of 9.63% and a return on equity of 3,774.27%. The firm had revenue of $23.38 billion for the quarter, compared to analyst estimates of $22.22 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. equities analysts predict that Boeing Co will post 14.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 11th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, May 10th. Boeing’s dividend payout ratio (DPR) is currently 56.81%.
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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