Meritage Portfolio Management cut its position in shares of Boeing (NYSE:BA) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,224 shares of the aircraft producer’s stock after selling 159 shares during the period. Meritage Portfolio Management’s holdings in Boeing were worth $7,144,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonehearth Capital Management LLC bought a new stake in Boeing in the fourth quarter valued at $105,000. Solaris Asset Management LLC bought a new stake in Boeing in the fourth quarter valued at $111,000. Lipe & Dalton bought a new stake in Boeing in the third quarter valued at $100,000. Burt Wealth Advisors bought a new stake in Boeing in the third quarter valued at $100,000. Finally, Cerebellum GP LLC bought a new stake in Boeing in the fourth quarter valued at $128,000. Institutional investors and hedge funds own 70.75% of the company’s stock.
Shares of Boeing stock opened at $337.10 on Thursday. Boeing has a fifty-two week low of $173.75 and a fifty-two week high of $371.60. The stock has a market capitalization of $198,691.98, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.75 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 announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the 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 the consensus estimate of $24.78 billion. During the same period in the prior year, the company earned $2.47 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. sell-side analysts predict that Boeing will post 14.05 EPS for the current fiscal year.
Boeing declared that its board has initiated a share buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
A number of equities analysts have commented on BA shares. Sanford C. Bernstein boosted their price objective on Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective on the stock in a research note on Tuesday, January 2nd. Cowen reissued a “buy” rating and issued a $320.00 price objective on shares of Boeing in a research note on Monday, December 11th. JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Bank of America set a $320.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $358.47.
In related news, CFO Gregory D. Smith sold 36,079 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is owned by corporate insiders.
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Boeing Company Profile
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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