Todd Asset Management LLC cut its holdings in Boeing Co (NYSE:BA) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,394 shares of the aircraft producer’s stock after selling 4,214 shares during the period. Todd Asset Management LLC’s holdings in Boeing were worth $17,179,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of BA. BlackRock Inc. grew its stake in shares of Boeing by 2.1% in the fourth quarter. BlackRock Inc. now owns 35,515,544 shares of the aircraft producer’s stock valued at $10,473,889,000 after buying an additional 713,832 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Boeing by 7,729.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 679,819 shares of the aircraft producer’s stock valued at $200,485,000 after buying an additional 671,136 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Boeing in the fourth quarter valued at $186,265,000. Mackay Shields LLC bought a new position in shares of Boeing in the first quarter valued at $100,442,000. Finally, Geode Capital Management LLC grew its stake in shares of Boeing by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 5,811,840 shares of the aircraft producer’s stock valued at $1,710,303,000 after buying an additional 296,949 shares in the last quarter. Institutional investors own 69.47% of the company’s stock.
Several equities analysts recently weighed in on the stock. Buckingham Research raised their target price on shares of Boeing from $289.00 to $324.00 and gave the company a “hold” rating in a research note on Monday, June 4th. Vetr cut shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 target price for the company. in a research note on Thursday, March 8th. Nord/LB reissued a “buy” rating and issued a $385.00 target price on shares of Boeing in a research note on Thursday, April 26th. Societe Generale raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Finally, Canaccord Genuity raised their target price on shares of Boeing from $345.00 to $350.00 and gave the company a “hold” rating in a research note on Thursday, April 26th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $376.03.
In other news, EVP J Michael Luttig sold 9,000 shares of Boeing stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total transaction of $3,097,170.00. Following the completion of the sale, the executive vice president now owns 27,878 shares of the company’s stock, valued at $9,593,656.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gregory L. Hyslop sold 2,241 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $340.27, for a total value of $762,545.07. Following the completion of the transaction, the senior vice president now directly owns 21,425 shares of the company’s stock, valued at approximately $7,290,284.75. The disclosure for this sale can be found here. Insiders have sold 12,373 shares of company stock valued at $4,233,094 in the last three months. Insiders own 0.24% of the company’s stock.
BA opened at $333.18 on Friday. Boeing Co has a fifty-two week low of $200.78 and a fifty-two week high of $374.48. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a market cap of $193.96 billion, a PE ratio of 24.28, a PEG ratio of 1.65 and a beta of 1.41.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 25th. The aircraft producer reported $3.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.59 by $1.05. Boeing had a return on equity of 3,774.27% and a net margin of 9.63%. The company had revenue of $23.38 billion during the quarter, compared to the consensus estimate of $22.22 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. sell-side analysts predict that Boeing Co will post 14.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Friday, August 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, August 9th. Boeing’s dividend payout ratio is currently 56.81%.
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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