Carlton Hofferkamp & Jenks Wealth Management LLC reduced its holdings in shares of Boeing (NYSE:BA) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,735 shares of the aircraft producer’s stock after selling 1,623 shares during the quarter. Boeing accounts for about 1.4% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Boeing were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Arete Wealth Advisors LLC raised its position in shares of Boeing by 0.4% during the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after acquiring an additional 9 shares in the last quarter. High Falls Advisors Inc raised its position in shares of Boeing by 0.3% during the 2nd quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock valued at $696,000 after acquiring an additional 11 shares in the last quarter. Arcus Capital Partners LLC raised its position in shares of Boeing by 0.7% during the 2nd quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock valued at $324,000 after acquiring an additional 12 shares in the last quarter. Strategic Advisors LLC raised its position in shares of Boeing by 1.0% during the 2nd quarter. Strategic Advisors LLC now owns 2,021 shares of the aircraft producer’s stock valued at $400,000 after acquiring an additional 20 shares in the last quarter. Finally, Empirical Financial Services LLC raised its position in shares of Boeing by 0.9% during the 2nd quarter. Empirical Financial Services LLC now owns 3,094 shares of the aircraft producer’s stock valued at $612,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 70.75% of the company’s stock.
In related news, CFO Gregory D. Smith sold 36,079 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
Several research firms recently issued reports on BA. Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $288.75 price target on the stock in a research report on Monday, December 11th. Berenberg Bank set a $395.00 target price on Boeing and gave the stock a “buy” rating in a research report on Monday, January 29th. Buckingham Research reaffirmed a “hold” rating and issued a $203.00 target price on shares of Boeing in a research report on Friday, December 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $339.00 target price on shares of Boeing in a research report on Monday, January 8th. Finally, Wells Fargo reaffirmed a “market perform” rating and issued a $365.00 target price (up from $330.00) on shares of Boeing in a research report on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $358.47.
Boeing (NYSE:BA) opened at $331.76 on Tuesday. Boeing has a 52 week low of $173.75 and a 52 week high of $371.60. The stock has a market capitalization of $194,478.39, a price-to-earnings ratio of 27.36, a PEG ratio of 1.71 and a beta of 1.37. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter in the prior year, the business posted $2.47 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. research analysts expect that Boeing will post 14.05 EPS for the current year.
Boeing declared that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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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