Brightworth Invests $6.41 Million in Boeing Co (BA) Stock

Brightworth purchased a new stake in shares of Boeing Co (NYSE:BA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 25,228 shares of the aircraft producer’s stock, valued at approximately $6,413,000. Boeing makes up 1.6% of Brightworth’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clear Perspective Advisors LLC grew its stake in shares of Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after acquiring an additional 135 shares in the last quarter. Vantage Investment Advisors LLC grew its stake in shares of Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after acquiring an additional 84 shares in the last quarter. CWH Capital Management Inc. bought a new stake in shares of Boeing in the 2nd quarter worth $134,000. Catamount Wealth Management bought a new stake in shares of Boeing in the 2nd quarter worth $138,000. Finally, Herndon Capital Management LLC grew its stake in shares of Boeing by 29.7% in the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.

Shares of Boeing Co (NYSE:BA) opened at $297.80 on Thursday. Boeing Co has a fifty-two week low of $156.67 and a fifty-two week high of $299.33. The stock has a market cap of $176,791.52, a PE ratio of 27.37, a PEG ratio of 2.08 and a beta of 1.24. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The firm had revenue of $24.31 billion for the quarter, compared to the consensus estimate of $24.09 billion. During the same period in the prior year, the firm posted $3.51 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. research analysts predict that Boeing Co will post 10.11 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio is presently 52.21%.

Boeing declared that its board has authorized a stock buyback program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to repurchase 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.

Several equities analysts recently weighed in on the stock. Wells Fargo & Co restated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of Boeing in a research report on Wednesday, September 20th. Zacks Investment Research lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Sanford C. Bernstein restated an “outperform” rating and set a $303.00 price target (up previously from $274.00) on shares of Boeing in a research report on Wednesday, September 20th. They noted that the move was a valuation call. Vetr lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $267.03 price target for the company. in a research report on Friday, October 6th. Finally, Credit Suisse Group restated an “outperform” rating and set a $310.00 price target (up previously from $300.00) on shares of Boeing in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $274.67.

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About Boeing

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 (NYSE:BA)

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