California State Teachers Retirement System trimmed its position in Boeing Co (NYSE:BA) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 947,886 shares of the aircraft producer’s stock after selling 105,405 shares during the quarter. California State Teachers Retirement System’s holdings in Boeing were worth $240,962,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after buying an additional 407,511 shares during the last quarter. Jennison Associates LLC grew its stake in Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after buying an additional 1,160,859 shares during the last quarter. Janus Henderson Group PLC grew its stake in Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after buying an additional 4,852,679 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock worth $870,618,000 after buying an additional 402,240 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Boeing by 2.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock worth $801,586,000 after buying an additional 86,722 shares during the last quarter. Institutional investors and hedge funds own 70.45% of the company’s stock.
Shares of Boeing Co (NYSE BA) opened at $343.80 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. The firm has a market capitalization of $204,760.00, a price-to-earnings ratio of 25.54, a PEG ratio of 1.83 and a beta of 1.44. Boeing Co has a twelve month low of $166.35 and a twelve month high of $361.45.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 earnings per share. analysts forecast that Boeing Co will post 14.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a $1.71 dividend. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 annualized dividend and a dividend yield of 1.99%. Boeing’s dividend payout ratio is 50.82%.
Boeing announced that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently commented on the company. Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $288.75 price objective for the company in a research note on Monday, December 11th. Berenberg Bank set a $395.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Monday, January 29th. Cowen restated a “buy” rating and set a $315.00 price objective on shares of Boeing in a research note on Thursday, October 26th. Buckingham Research restated a “hold” rating and set a $203.00 price objective on shares of Boeing in a research note on Friday, December 22nd. Finally, Nord/LB set a $250.00 price target on Boeing and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $353.24.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.
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Boeing 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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