Cynosure Advisors LLC trimmed its holdings in shares of Boeing Co (NYSE:BA) by 45.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,638 shares of the aircraft producer’s stock after selling 1,371 shares during the quarter. Cynosure Advisors LLC’s holdings in Boeing were worth $550,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Argent Trust Co boosted its position in Boeing by 5.1% during the 4th quarter. Argent Trust Co now owns 5,625 shares of the aircraft producer’s stock valued at $1,659,000 after acquiring an additional 271 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of Boeing during the 1st quarter valued at $463,000. Tiverton Asset Management LLC lifted its holdings in shares of Boeing by 388.8% during the 1st quarter. Tiverton Asset Management LLC now owns 26,511 shares of the aircraft producer’s stock valued at $8,692,000 after purchasing an additional 21,087 shares during the last quarter. Fishman Jay A Ltd. MI lifted its holdings in shares of Boeing by 1.1% during the 1st quarter. Fishman Jay A Ltd. MI now owns 45,505 shares of the aircraft producer’s stock valued at $14,920,000 after purchasing an additional 475 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Boeing by 23.7% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 810 shares of the aircraft producer’s stock valued at $266,000 after purchasing an additional 155 shares during the last quarter. 70.42% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on BA shares. Jefferies Financial Group increased their price objective on Boeing to $410.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Berenberg Bank reiterated a “buy” rating and set a $430.00 price objective on shares of Boeing in a report on Monday, September 3rd. Morgan Stanley set a $400.00 price objective on Boeing and gave the company a “hold” rating in a report on Friday, September 28th. Goldman Sachs Group set a $387.00 price objective on Boeing and gave the company a “neutral” rating in a report on Wednesday, October 24th. Finally, Cowen reiterated a “buy” rating and set a $445.00 price objective on shares of Boeing in a report on Monday, October 1st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $410.21.
Shares of BA stock opened at $366.47 on Wednesday. The firm has a market capitalization of $203.16 billion, a P/E ratio of 30.44, a PEG ratio of 1.73 and a beta of 1.30. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 8.07. Boeing Co has a 1 year low of $259.56 and a 1 year high of $394.28.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.47 by $0.11. The company had revenue of $25.15 billion during the quarter, compared to analyst estimates of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. Analysts forecast that Boeing Co will post 15.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 8th. Boeing’s dividend payout ratio is currently 56.81%.
In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.
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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