Brookstone Capital Management trimmed its position in shares of Boeing Co (NYSE:BA) by 28.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,240 shares of the aircraft producer’s stock after selling 906 shares during the period. Brookstone Capital Management’s holdings in Boeing were worth $569,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BA. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Boeing by 12.6% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,130 shares of the aircraft producer’s stock worth $1,792,000 after purchasing an additional 1,130 shares in the last quarter. Colony Group LLC boosted its stake in shares of Boeing by 0.4% during the 1st quarter. Colony Group LLC now owns 56,233 shares of the aircraft producer’s stock valued at $9,945,000 after buying an additional 241 shares during the period. IHT Wealth Management LLC boosted its stake in shares of Boeing by 13.3% during the 1st quarter. IHT Wealth Management LLC now owns 1,986 shares of the aircraft producer’s stock valued at $352,000 after buying an additional 233 shares during the period. Chemung Canal Trust Co. boosted its stake in shares of Boeing by 1.9% during the 1st quarter. Chemung Canal Trust Co. now owns 24,438 shares of the aircraft producer’s stock valued at $4,323,000 after buying an additional 449 shares during the period. Finally, Bath Savings Trust Co boosted its stake in shares of Boeing by 100.9% during the 2nd quarter. Bath Savings Trust Co now owns 2,351 shares of the aircraft producer’s stock valued at $465,000 after buying an additional 1,181 shares during the period. Hedge funds and other institutional investors own 70.87% of the company’s stock.
A number of equities research analysts have issued reports on BA shares. Buckingham Research reissued a “hold” rating and set a $203.00 target price on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group reissued a “buy” rating and set a $339.00 target price on shares of Boeing in a research note on Monday, January 8th. Credit Suisse Group reissued an “outperform” rating and set a $375.00 target price (up previously from $310.00) on shares of Boeing in a research note on Friday. They noted that the move was a valuation call. Nord/LB set a $250.00 target price on shares of Boeing and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 target price for the company in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $289.19.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.65 by $0.07. The firm had revenue of $24.31 billion for the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.51 EPS. research analysts forecast that Boeing Co will post 10.13 earnings per share for the current 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. This represents a $6.84 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is 52.25%.
Boeing declared that its Board of Directors has approved a stock repurchase program on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Boeing 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.
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