QCI Asset Management Inc. NY cut its holdings in Boeing Co (NYSE:BA) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,479 shares of the aircraft producer’s stock after selling 300 shares during the period. QCI Asset Management Inc. NY’s holdings in Boeing were worth $884,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Boeing by 1.0% in the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after acquiring an additional 407,511 shares during the period. Jennison Associates LLC increased its position in shares of Boeing by 20.3% in the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after acquiring an additional 1,160,859 shares during the period. Janus Henderson Group PLC increased its position in shares of Boeing by 7,215.0% in the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after acquiring an additional 4,852,679 shares during the period. American Century Companies Inc. increased its position in shares of Boeing by 15.5% in the third quarter. American Century Companies Inc. now owns 3,106,855 shares of the aircraft producer’s stock valued at $789,794,000 after acquiring an additional 417,793 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Boeing by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after acquiring an additional 123,420 shares during the period. 70.87% of the stock is owned by institutional investors and hedge funds.
Boeing Co (NYSE BA) opened at $337.73 on Friday. Boeing Co has a 52-week low of $157.29 and a 52-week high of $352.23. 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 stock has a market cap of $201,144.56, a PE ratio of 34.64, a P/E/G ratio of 2.19 and a beta of 1.24.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The company had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. During the same quarter in the previous year, the company earned $3.51 earnings per share. Boeing’s quarterly revenue was up 1.7% on a year-over-year basis. research analysts forecast that Boeing Co will post 10.17 EPS for the current fiscal year.
Boeing announced that its board has approved a stock repurchase program on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.84 annualized dividend and a yield of 2.03%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is presently 52.21%.
A number of equities analysts have issued reports on BA shares. Royal Bank of Canada set a $290.00 price objective on shares of Boeing and gave the company a “hold” rating in a research report on Wednesday, November 15th. Jefferies Group boosted their price objective on shares of Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. JPMorgan Chase & Co. set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, ValuEngine cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. Boeing presently has a consensus rating of “Buy” and a consensus target price of $304.10.
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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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