Broadleaf Partners LLC trimmed its holdings in Boeing Co (NYSE:BA) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,632 shares of the aircraft producer’s stock after selling 191 shares during the quarter. Boeing comprises 3.0% of Broadleaf Partners LLC’s portfolio, making the stock its 9th largest holding. Broadleaf Partners LLC’s holdings in Boeing were worth $3,751,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of BA. Contravisory Investment Management Inc. boosted its stake in Boeing by 159.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock valued at $45,000 after purchasing an additional 86 shares in the last quarter. CX Institutional bought a new position in Boeing during the 4th quarter valued at $74,000. Stuart Chaussee & Associates Inc. boosted its stake in Boeing by 412.1% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 297 shares of the aircraft producer’s stock valued at $96,000 after purchasing an additional 239 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in Boeing during the 2nd quarter valued at $101,000. Finally, Interactive Financial Advisors bought a new position in Boeing during the 3rd quarter valued at $112,000. 69.55% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on BA. Jefferies Financial Group set a $420.00 price target on Boeing and gave the company a “buy” rating in a research note on Tuesday, November 13th. Morgan Stanley raised Boeing from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $400.00 to $450.00 in a research note on Wednesday, January 9th. Argus reissued a “fair value” rating and set a $395.00 price objective on shares of Boeing in a research note on Thursday, October 25th. Cowen reissued a “buy” rating and set a $445.00 price objective on shares of Boeing in a research note on Tuesday, December 18th. Finally, UBS Group reissued a “buy” rating on shares of Boeing in a research note on Wednesday, January 9th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $412.08.
In other news, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $367.52, for a total value of $602,732.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.
BA opened at $410.18 on Wednesday. The firm has a market cap of $225.45 billion, a PE ratio of 25.62, a P/E/G ratio of 1.44 and a beta of 1.31. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. Boeing Co has a fifty-two week low of $292.47 and a fifty-two week high of $410.75.
Boeing (NYSE:BA) last released its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.52 by $0.96. The company had revenue of $28.34 billion during the quarter, compared to analyst estimates of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Equities research analysts forecast that Boeing Co will post 20.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be issued a $2.055 dividend. The ex-dividend date is Thursday, February 7th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio is presently 42.72%.
Boeing announced that its board has initiated a share buyback plan on Monday, December 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the aircraft producer to buy up to 11.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
TRADEMARK VIOLATION WARNING: “Boeing Co (BA) Shares Sold by Broadleaf Partners LLC” was originally reported by Enterprise Leader and is the sole property of of Enterprise Leader. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://theenterpriseleader.com/2019/02/06/boeing-co-ba-shares-sold-by-broadleaf-partners-llc.html.
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.
Further Reading: Do back-end load funds outperform no-load funds?
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.