Alberta Investment Management Corp trimmed its stake in Boeing Co (NYSE:BA) by 54.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,800 shares of the aircraft producer’s stock after selling 3,300 shares during the quarter. Alberta Investment Management Corp’s holdings in Boeing were worth $1,065,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of BA. NuWave Investment Management LLC grew its holdings in Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares during the period. Guidant Wealth Advisors acquired a new stake in Boeing in the second quarter worth $28,000. Atwater Malick LLC acquired a new stake in Boeing in the third quarter worth $39,000. Transamerica Financial Advisors Inc. acquired a new stake in Boeing in the second quarter worth $40,000. Finally, Next Capital Management LLC acquired a new stake in Boeing in the second quarter worth $42,000. Institutional investors and hedge funds own 67.91% of the company’s stock.
A number of research analysts have weighed in on BA shares. UBS Group raised shares of Boeing from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research lowered shares of Boeing from an “outperform” rating to a “peer perform” rating and dropped their price objective for the company from $404.00 to $393.00 in a research note on Thursday, July 25th. Cowen set a $460.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Friday, October 11th. Barclays set a $367.00 price objective on shares of Boeing and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Buckingham Research set a $395.00 price objective on shares of Boeing and gave the company a “hold” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Boeing currently has a consensus rating of “Hold” and an average price target of $382.82.
BA opened at $340.88 on Tuesday. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.11 and a quick ratio of 0.29. The company’s 50-day moving average is $368.82 and its 200 day moving average is $360.12. Boeing Co has a fifty-two week low of $292.47 and a fifty-two week high of $446.01. The firm has a market capitalization of $193.91 billion, a P/E ratio of 21.29, a PEG ratio of 13.52 and a beta of 1.25.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.59). Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The firm had revenue of $19.98 billion for the quarter, compared to the consensus estimate of $20 billion. During the same period in the previous year, the business earned $3.58 earnings per share. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis. On average, equities research analysts expect that Boeing Co will post 2.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, November 7th. Boeing’s payout ratio is currently 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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