Coldstream Capital Management Inc. boosted its position in Boeing Co (NYSE:BA) by 31.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,985 shares of the aircraft producer’s stock after purchasing an additional 8,399 shares during the period. Boeing comprises 1.0% of Coldstream Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Coldstream Capital Management Inc.’s holdings in Boeing were worth $8,894,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Insight Capital Research & Management Inc. purchased a new position in Boeing during the third quarter worth $2,950,000. Griffin Asset Management Inc. increased its position in Boeing by 24.7% during the third quarter. Griffin Asset Management Inc. now owns 39,078 shares of the aircraft producer’s stock worth $9,934,000 after buying an additional 7,737 shares in the last quarter. Argent Capital Management LLC increased its position in Boeing by 14.8% during the third quarter. Argent Capital Management LLC now owns 68,777 shares of the aircraft producer’s stock worth $17,484,000 after buying an additional 8,879 shares in the last quarter. Piedmont Investment Advisors LLC increased its position in Boeing by 3.5% during the third quarter. Piedmont Investment Advisors LLC now owns 160,049 shares of the aircraft producer’s stock worth $40,686,000 after buying an additional 5,436 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Boeing by 1.2% during the third quarter. California Public Employees Retirement System now owns 1,417,387 shares of the aircraft producer’s stock worth $360,314,000 after buying an additional 17,162 shares in the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on BA shares. Royal Bank of Canada raised their price target on Boeing from $269.00 to $273.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 26th. Canaccord Genuity raised their price target on Boeing from $245.00 to $250.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Cowen restated a “buy” rating and set a $315.00 price objective on shares of Boeing in a report on Thursday, October 26th. JPMorgan Chase & Co. restated a “buy” rating and set a $300.00 price objective on shares of Boeing in a report on Thursday, October 26th. Finally, Argus restated a “buy” rating and set a $290.00 price objective (up previously from $270.00) on shares of Boeing in a report on Friday, October 27th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $354.25.
In related news, CFO Gregory D. Smith sold 36,079 shares of Boeing 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 legal filing with the SEC, which is accessible through this hyperlink. 0.28% of the stock is currently owned by company insiders.
Boeing Co (BA) opened at $352.37 on Thursday. Boeing Co has a fifty-two week low of $173.75 and a fifty-two week high of $361.45. The firm has a market capitalization of $207,943.05, a price-to-earnings ratio of 29.25, a P/E/G ratio of 1.83 and a beta of 1.44. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. equities analysts forecast that Boeing Co will post 14.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 1.94%. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is presently 50.78%.
Boeing declared that its Board of Directors has approved a share buyback program on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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