Gateway Investment Advisers LLC reduced its position in Boeing Co (NYSE:BA) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,896 shares of the aircraft producer’s stock after selling 26,406 shares during the period. Gateway Investment Advisers LLC owned 0.07% of Boeing worth $75,324,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BA. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Boeing during the fourth quarter worth approximately $106,000. Thomas J. Herzfeld Advisors Inc. bought a new position in Boeing during the fourth quarter worth approximately $109,000. Kernodle & Katon Asset Management Group LLC acquired a new stake in Boeing during the third quarter valued at about $102,000. Jackson Grant Investment Advisers Inc. raised its stake in Boeing by 124.9% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 830 shares of the aircraft producer’s stock valued at $109,000 after buying an additional 461 shares in the last quarter. Finally, Pinnacle Bank acquired a new stake in Boeing during the first quarter valued at about $160,000. 74.66% of the stock is owned by institutional investors and hedge funds.
Boeing (NYSE:BA) last released its earnings results on Wednesday, April 26th. The aircraft producer reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.10. The business had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.27 billion. Boeing had a net margin of 5.18% and a return on equity of 239.48%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.74 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 12th will be paid a dividend of $1.42 per share. The ex-dividend date is Wednesday, May 10th. This represents a $5.68 annualized dividend and a yield of 3.14%. Boeing’s dividend payout ratio is presently 74.25%.
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Several research firms recently issued reports on BA. Vetr raised Boeing from a “buy” rating to a “strong-buy” rating and set a $199.85 price objective for the company in a research note on Thursday. Cowen and Company reaffirmed an “outperform” rating and set a $215.00 price target on shares of Boeing in a research note on Wednesday. Deutsche Bank AG lifted their price target on Boeing from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Canaccord Genuity reaffirmed a “hold” rating and set a $170.00 price target on shares of Boeing in a research note on Thursday, April 27th. Finally, Goldman Sachs Group Inc reaffirmed a “sell” rating and set a $134.00 price target on shares of Boeing in a research note on Thursday, April 27th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $167.08.
In related news, EVP J Michael Luttig sold 7,986 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $183.78, for a total transaction of $1,467,667.08. Following the completion of the sale, the executive vice president now owns 39,251 shares of the company’s stock, valued at approximately $7,213,548.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leanne G. Caret sold 2,400 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $182.73, for a total transaction of $438,552.00. Following the sale, the executive vice president now directly owns 44,710 shares of the company’s stock, valued at approximately $8,169,858.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,403 shares of company stock valued at $11,666,138. 0.58% of the stock is owned by corporate insiders.
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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