Signet Investment Advisory Group Inc. cut its stake in shares of Boeing Co (NYSE:BA) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,679 shares of the aircraft producer’s stock after selling 131 shares during the period. Signet Investment Advisory Group Inc.’s holdings in Boeing were worth $975,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in BA. NuWave Investment Management LLC increased its position in shares of Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares during the last quarter. Guidant Wealth Advisors bought a new position in shares of Boeing in the second quarter worth approximately $28,000. Next Capital Management LLC purchased a new stake in Boeing in the fourth quarter worth approximately $32,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in Boeing in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.
BA has been the subject of several research reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $425.00 target price on shares of Boeing in a research note on Thursday, July 25th. Canaccord Genuity set a $380.00 target price on Boeing and gave the stock a “hold” rating in a research note on Friday, July 19th. UBS Group reaffirmed a “buy” rating and issued a $480.00 target price (down previously from $500.00) on shares of Boeing in a research note on Wednesday, July 10th. Morgan Stanley set a $500.00 target price on Boeing and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Citigroup set a $430.00 target price on Boeing and gave the stock a “buy” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $403.10.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. The firm had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.33 earnings per share. On average, sell-side analysts predict that Boeing Co will post 4.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be paid a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.
Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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