Meyer Handelman Co. cut its stake in shares of Boeing Company (The) (NYSE:BA) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,933 shares of the aircraft producer’s stock after selling 150 shares during the period. Meyer Handelman Co.’s holdings in Boeing Company (The) were worth $14,314,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. increased its stake in Boeing Company (The) by 7.3% in the third quarter. 1832 Asset Management L.P. now owns 229,219 shares of the aircraft producer’s stock valued at $30,193,000 after buying an additional 15,670 shares during the last quarter. Kernodle & Katon Asset Management Group LLC purchased a new position in shares of Boeing Company (The) during the third quarter worth approximately $102,000. EP Wealth Advisors Inc. increased its position in shares of Boeing Company (The) by 6.9% in the third quarter. EP Wealth Advisors Inc. now owns 4,387 shares of the aircraft producer’s stock worth $578,000 after buying an additional 284 shares in the last quarter. Green Square Capital LLC purchased a new position in shares of Boeing Company (The) during the third quarter worth approximately $4,405,000. Finally, Usca Ria LLC increased its position in shares of Boeing Company (The) by 6.4% in the third quarter. Usca Ria LLC now owns 13,296 shares of the aircraft producer’s stock worth $1,752,000 after buying an additional 796 shares in the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.
Shares of Boeing Company (NYSE BA) opened at 196.44 on Friday. The firm has a 50 day moving average price of $186.13 and a 200-day moving average price of $172.90. The firm has a market capitalization of $118.57 billion, a P/E ratio of 24.20 and a beta of 1.14. Boeing Company has a 52 week low of $122.35 and a 52 week high of $197.95. Boeing Company (The) also saw some unusual options trading on Friday. Traders acquired 3,818 call options on the stock. This represents an increase of 270% compared to the typical daily volume of 1,031 call options.
Boeing Company (The) (NYSE:BA) last posted its earnings results on Wednesday, April 26th. The aircraft producer reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.10. The company had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.27 billion. Boeing Company (The) had a return on equity of 495.68% and a net margin of 5.52%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.74 earnings per share. Equities research analysts predict that Boeing Company will post $9.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 12th were paid a $1.42 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.89%. Boeing Company (The)’s payout ratio is presently 69.61%.
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A number of equities analysts have commented on BA shares. Vetr downgraded shares of Boeing Company (The) from a “sell” rating to a “strong sell” rating and set a $155.02 target price for the company. in a report on Tuesday, February 21st. Deutsche Bank AG upped their price objective on shares of Boeing Company (The) from $195.00 to $205.00 and gave the company a “buy” rating in a report on Monday, March 6th. Morgan Stanley downgraded shares of Boeing Company (The) from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $185.00 to $190.00 in a report on Monday, March 13th. They noted that the move was a valuation call. Barclays PLC restated an “overweight” rating and set a $190.00 price objective (up previously from $175.00) on shares of Boeing Company (The) in a report on Thursday, March 16th. Finally, Canaccord Genuity restated a “hold” rating and set a $162.00 price objective on shares of Boeing Company (The) in a report on Friday, March 17th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $167.65.
In other news, SVP Timothy John Keating sold 32,500 shares of Boeing Company (The) stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $184.51, for a total value of $5,996,575.00. Following the transaction, the senior vice president now directly owns 107,437 shares in the company, valued at $19,823,200.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bertrand Marc Allen sold 15,470 shares of Boeing Company (The) stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $183.62, for a total value of $2,840,601.40. Following the completion of the transaction, the senior vice president now owns 43,801 shares in the company, valued at $8,042,739.62. The disclosure for this sale can be found here. Insiders sold 63,403 shares of company stock worth $11,666,138 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Boeing Company (The) Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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