West Coast Financial LLC cut its holdings in shares of Boeing Co (NYSE:BA) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,726 shares of the aircraft producer’s stock after selling 129 shares during the period. West Coast Financial LLC’s holdings in Boeing were worth $1,356,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of BA. Nordea Investment Management AB boosted its position in Boeing by 128.1% during the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after buying an additional 41 shares during the period. Next Capital Management LLC bought a new stake in shares of Boeing in the 4th quarter valued at $32,000. 1 North Wealth Services LLC bought a new stake in shares of Boeing in the 4th quarter valued at $40,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Boeing in the 4th quarter valued at $40,000. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of Boeing in the 4th quarter valued at $45,000. 67.92% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on BA shares. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $404.00 to $393.00 in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday. Goldman Sachs Group set a €135.00 ($156.98) price objective on shares of SAP and gave the company a “buy” rating in a report on Friday, July 12th. Buckingham Research decreased their price target on PJT Partners from $49.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Citigroup set a $12.00 price target on Controladora Vuela Co Avcn SA CV and gave the company a “buy” rating in a research report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Boeing has an average rating of “Hold” and an average target price of $403.79.
Shares of BA stock traded down $4.23 during mid-day trading on Friday, hitting $343.86. The stock had a trading volume of 1,836,834 shares, compared to its average volume of 4,496,913. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01. The firm has a market capitalization of $203.35 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.52 and a beta of 1.30. The stock has a 50-day moving average of $361.08. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period in the prior year, the business earned $3.33 EPS. The business’s revenue for the quarter was down 35.1% compared to the same quarter last year. Sell-side analysts predict that Boeing Co will post 12.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be issued a $2.055 dividend. This represents a $8.22 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio is 51.34%.
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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