Peregrine Asset Advisers Inc. Increases Position in Boeing Co (NYSE:BA)

Peregrine Asset Advisers Inc. boosted its holdings in Boeing Co (NYSE:BA) by 2.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,467 shares of the aircraft producer’s stock after purchasing an additional 66 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Boeing were worth $898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BA. Claraphi Advisory Network LLC lifted its stake in shares of Boeing by 3.6% in the second quarter. Claraphi Advisory Network LLC now owns 2,943 shares of the aircraft producer’s stock worth $1,071,000 after buying an additional 103 shares in the last quarter. Dupont Capital Management Corp lifted its position in Boeing by 0.3% during the second quarter. Dupont Capital Management Corp now owns 45,420 shares of the aircraft producer’s stock valued at $16,533,000 after purchasing an additional 125 shares during the period. Corrado Advisors LLC lifted its position in Boeing by 4.1% during the second quarter. Corrado Advisors LLC now owns 7,901 shares of the aircraft producer’s stock valued at $2,876,000 after purchasing an additional 310 shares during the period. NEXT Financial Group Inc lifted its position in Boeing by 167.1% during the second quarter. NEXT Financial Group Inc now owns 4,909 shares of the aircraft producer’s stock valued at $1,787,000 after purchasing an additional 3,071 shares during the period. Finally, Busey Wealth Management lifted its position in Boeing by 93.8% during the second quarter. Busey Wealth Management now owns 12,745 shares of the aircraft producer’s stock valued at $4,639,000 after purchasing an additional 6,170 shares during the period. Institutional investors and hedge funds own 67.81% of the company’s stock.

BA stock traded up $1.60 during midday trading on Friday, reaching $356.01. 10,943,537 shares of the company’s stock traded hands, compared to its average volume of 4,367,456. Boeing Co has a 52-week low of $292.47 and a 52-week high of $446.01. The stock has a market cap of $191.32 billion, a P/E ratio of 22.24, a PEG ratio of 10.06 and a beta of 1.27. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. The stock’s 50-day moving average is $348.22 and its 200 day moving average is $371.20.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period in the prior year, the company earned $3.33 earnings per share. The firm’s revenue was down 35.1% on a year-over-year basis. As a group, research analysts expect that Boeing Co will post 4.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be issued a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a yield of 2.31%. Boeing’s dividend payout ratio is currently 51.34%.

A number of research analysts recently weighed in on BA shares. Morgan Stanley set a $500.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Friday, July 19th. Buckingham Research increased their price objective on shares of Boeing from $370.00 to $395.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Jefferies Financial Group lowered their price objective on shares of Boeing from $448.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Canaccord Genuity set a $380.00 price objective on shares of Boeing and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Boeing has a consensus rating of “Hold” and a consensus target price of $403.10.

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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