State Board of Administration of Florida Retirement System decreased its stake in Boeing Co (NYSE:BA) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 832,708 shares of the aircraft producer’s stock after selling 21,000 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Boeing worth $211,683,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of BA. Clear Perspective Advisors LLC increased its holdings in Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after acquiring an additional 135 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings in shares of Boeing by 11.1% during the second quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after buying an additional 84 shares in the last quarter. CWH Capital Management Inc. purchased a new stake in shares of Boeing during the second quarter worth about $134,000. Catamount Wealth Management purchased a new stake in shares of Boeing during the second quarter worth about $138,000. Finally, Herndon Capital Management LLC grew its holdings in shares of Boeing by 29.7% during the second quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.
Boeing Co (NYSE:BA) opened at $338.00 on Tuesday. Boeing Co has a 12-month low of $157.29 and a 12-month high of $352.23. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18. The company has a market cap of $201,310.00, a price-to-earnings ratio of 31.09, a PEG ratio of 2.16 and a beta of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is 52.25%.
Boeing announced that its Board of Directors has initiated a share repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently commented on BA shares. Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. ValuEngine downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Vetr downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $267.03 price target for the company. in a report on Friday, October 6th. Cowen restated a “buy” rating and issued a $315.00 target price on shares of Boeing in a report on Friday, October 6th. Finally, Canaccord Genuity restated a “hold” rating and issued a $235.00 target price on shares of Boeing in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $306.23.
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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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