Park National Corp OH reduced its position in shares of Boeing Co (NYSE:BA) by 21.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,585 shares of the aircraft producer’s stock after selling 2,553 shares during the quarter. Park National Corp OH’s holdings in Boeing were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Intl Fcstone Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $1,933,000. M Holdings Securities Inc. increased its stake in shares of Boeing by 62.7% in the 2nd quarter. M Holdings Securities Inc. now owns 3,381 shares of the aircraft producer’s stock valued at $669,000 after acquiring an additional 1,303 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $6,198,000. Gs Investments Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $2,408,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Boeing in the 2nd quarter valued at about $17,402,000. 70.97% of the stock is owned by hedge funds and other institutional investors.
Boeing Co (NYSE:BA) opened at $293.94 on Friday. Boeing Co has a 12-month low of $153.14 and a 12-month high of $297.37. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18. The firm has a market capitalization of $175,040.97, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share 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 during the quarter, compared to the consensus estimate of $24.09 billion. During the same quarter in the prior year, the firm posted $3.51 EPS. The business’s revenue was up 1.7% on a year-over-year basis. sell-side analysts expect that Boeing Co will post 10.1 earnings per share for the current year.
Boeing declared that its board has authorized a share repurchase program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a dividend of $1.71 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.33%. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is 52.21%.
BA has been the subject of a number of recent analyst reports. Zacks Investment Research raised Boeing from a “hold” rating to a “strong-buy” rating and set a $271.00 price target for the company in a research note on Tuesday, August 22nd. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cowen reaffirmed a “buy” rating and issued a $300.00 price target on shares of Boeing in a research note on Tuesday, September 12th. Vetr cut Boeing from a “strong-buy” rating to a “buy” rating and set a $269.69 target price for the company. in a research note on Wednesday, September 13th. Finally, Deutsche Bank increased their target price on Boeing to $300.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $266.73.
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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