Twin Capital Management Inc. reduced its position in shares of Boeing Co (NYSE:BA) by 53.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,059 shares of the aircraft producer’s stock after selling 37,023 shares during the period. Twin Capital Management Inc.’s holdings in Boeing were worth $11,670,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BA. FMR LLC raised its position in Boeing by 26.5% in the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock worth $4,211,577,000 after acquiring an additional 2,311,630 shares during the period. Geode Capital Management LLC raised its position in Boeing by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock worth $2,015,856,000 after acquiring an additional 214,945 shares during the period. Thoroughbred Financial Services LLC raised its position in Boeing by 36,928.2% in the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock worth $623,555,000 after acquiring an additional 6,218,711 shares during the period. Janus Henderson Group PLC raised its position in Boeing by 0.4% in the second quarter. Janus Henderson Group PLC now owns 5,575,193 shares of the aircraft producer’s stock worth $2,029,440,000 after acquiring an additional 21,663 shares during the period. Finally, TD Asset Management Inc. raised its position in Boeing by 5.2% in the second quarter. TD Asset Management Inc. now owns 1,301,381 shares of the aircraft producer’s stock worth $473,715,000 after acquiring an additional 64,440 shares during the period. 68.65% of the stock is currently owned by institutional investors.
Several analysts have commented on BA shares. Cowen set a $460.00 price objective on shares of Boeing and gave the stock a “buy” rating in a research report on Friday, July 19th. Goldman Sachs Group reissued a “neutral” rating and issued a $375.00 price target on shares of Boeing in a research report on Friday, July 12th. Zacks Investment Research raised shares of Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price target on the stock in a research report on Monday, June 10th. Jefferies Financial Group lowered their price target on shares of Boeing from $448.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $403.10.
NYSE:BA traded up $5.74 during mid-day trading on Thursday, hitting $326.16. 2,278,552 shares of the stock traded hands, compared to its average volume of 4,922,259. The firm’s 50-day moving average is $352.61. The company has a market cap of $187.31 billion, a P/E ratio of 20.37, a PEG ratio of 10.14 and a beta of 1.27. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. Boeing’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.33 earnings per share. As a group, sell-side analysts predict that Boeing Co will post 3.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be paid a dividend of $2.055 per share. The ex-dividend date is Thursday, August 8th. This represents a $8.22 annualized dividend and a yield of 2.52%. Boeing’s dividend 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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