Pitcairn Co. boosted its holdings in Boeing Co (NYSE:BA) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,943 shares of the aircraft producer’s stock after acquiring an additional 476 shares during the quarter. Pitcairn Co.’s holdings in Boeing were worth $2,273,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Riverpoint Wealth Management Holdings LLC increased its position in shares of Boeing by 0.3% in the second quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after buying an additional 4 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of Boeing by 0.3% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock valued at $421,000 after buying an additional 6 shares in the last quarter. Accredited Investors Inc. increased its position in shares of Boeing by 0.4% in the second quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock valued at $325,000 after buying an additional 6 shares in the last quarter. Silicon Valley Capital Partners increased its position in shares of Boeing by 0.7% in the second quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock valued at $245,000 after buying an additional 9 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Boeing by 0.4% in the second quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 70.87% of the company’s stock.
Shares of Boeing Co (BA) opened at $335.16 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. Boeing Co has a 52 week low of $156.75 and a 52 week high of $347.73. The stock has a market capitalization of $199,610.00, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion for the quarter, compared to analyst estimates of $24.09 billion. During the same period last year, the company earned $3.51 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. equities analysts predict that Boeing Co will post 10.13 earnings per share for the current year.
Boeing announced that its Board of Directors has initiated a share repurchase program on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is presently 52.25%.
A number of research analysts have recently weighed in on the company. Vetr upgraded Boeing from a “strong sell” rating to a “sell” rating and set a $303.48 price target for the company in a research report on Tuesday. Wolfe Research upgraded Boeing from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and set a $433.00 price objective (up previously from $380.00) on shares of Boeing in a research note on Tuesday. They noted that the move was a valuation call. Citigroup increased their price objective on Boeing to $380.00 and gave the company a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, Cowen reaffirmed an “outperform” rating and set a $415.00 price objective (up previously from $320.00) on shares of Boeing in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Boeing currently has an average rating of “Buy” and an average target price of $298.63.
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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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