Verity Asset Management Inc. Buys New Holdings in Boeing Company (The) (NYSE:BA)

Verity Asset Management Inc. purchased a new stake in shares of Boeing Company (The) (NYSE:BA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,317 shares of the aircraft producer’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BA. Coastline Trust Co increased its position in shares of Boeing Company (The) by 27.4% during the first quarter. Coastline Trust Co now owns 2,465 shares of the aircraft producer’s stock valued at $436,000 after acquiring an additional 530 shares in the last quarter. Courier Capital LLC increased its position in shares of Boeing Company (The) by 5.4% during the first quarter. Courier Capital LLC now owns 9,342 shares of the aircraft producer’s stock valued at $1,652,000 after acquiring an additional 477 shares in the last quarter. Granite Investment Advisors LLC increased its position in shares of Boeing Company (The) by 8.1% during the first quarter. Granite Investment Advisors LLC now owns 51,796 shares of the aircraft producer’s stock valued at $9,161,000 after acquiring an additional 3,894 shares in the last quarter. Ledyard National Bank grew its position in Boeing Company (The) by 2.0% in the 1st quarter. Ledyard National Bank now owns 11,035 shares of the aircraft producer’s stock worth $1,952,000 after purchasing an additional 220 shares during the period. Finally, Bollard Group LLC grew its position in Boeing Company (The) by 9.4% in the 1st quarter. Bollard Group LLC now owns 126,274 shares of the aircraft producer’s stock worth $22,333,000 after purchasing an additional 10,879 shares during the period. 72.17% of the stock is owned by institutional investors.

Shares of Boeing Company (NYSE BA) opened at 256.45 on Friday. The stock has a market cap of $151.58 billion, a PE ratio of 22.47 and a beta of 1.18. Boeing Company has a 52-week low of $128.18 and a 52-week high of $259.30. The company’s 50-day moving average is $239.32 and its 200-day moving average is $202.49.

Boeing Company (The) (NYSE:BA) last posted its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.23. The company had revenue of $22.74 billion for the quarter, compared to analysts’ expectations of $22.97 billion. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business posted ($0.44) earnings per share. Equities analysts anticipate that Boeing Company will post $10.00 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, August 9th. Boeing Company (The)’s dividend payout ratio is currently 49.74%.

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A number of research firms have commented on BA. Cowen and Company reaffirmed a “buy” rating and issued a $315.00 target price on shares of Boeing Company (The) in a research report on Friday. Jefferies Group LLC lifted their target price on shares of Boeing Company (The) to $300.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Boeing Company (The) from a “hold” rating to a “buy” rating and set a $286.00 price target on the stock in a research note on Thursday. Sanford C. Bernstein reiterated an “outperform” rating and set a $303.00 price target (up previously from $274.00) on shares of Boeing Company (The) in a research note on Wednesday. They noted that the move was a valuation call. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of Boeing Company (The) in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $241.32.

In related news, SVP Thomas J. Downey sold 134 shares of Boeing Company (The) stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $241.20, for a total transaction of $32,320.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Dennis A. Muilenburg sold 56,838 shares of Boeing Company (The) stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $243.46, for a total transaction of $13,837,779.48. Following the sale, the chairman now owns 127,778 shares in the company, valued at $31,108,831.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,468 shares of company stock worth $20,353,814. Company insiders own 0.28% of the company’s stock.

Boeing Company (The) 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.

Institutional Ownership by Quarter for Boeing Company (The) (NYSE:BA)

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