Wesbanco Bank Inc. boosted its stake in shares of Boeing Co (NYSE:BA) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,005 shares of the aircraft producer’s stock after buying an additional 3,225 shares during the period. Boeing makes up about 1.7% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 8th largest holding. Wesbanco Bank Inc.’s holdings in Boeing were worth $34,219,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. NuWave Investment Management LLC increased its holdings in shares of Boeing by 554.5% in the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Boeing by 128.1% in the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Guidant Wealth Advisors bought a new stake in shares of Boeing in the 2nd quarter worth $28,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Boeing in the 4th quarter worth $40,000. Finally, Next Capital Management LLC bought a new stake in shares of Boeing in the 2nd quarter worth $42,000. 67.98% of the stock is owned by institutional investors.
BA has been the topic of a number of research reports. Barclays set a $367.00 price target on Boeing and gave the stock a “hold” rating in a research note on Tuesday. Berenberg Bank restated a “buy” rating and issued a $400.00 price target on shares of Boeing in a research note on Tuesday, August 6th. UBS Group set a $470.00 price target on Boeing and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. dropped their price target on Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, Goldman Sachs Group restated a “neutral” rating and issued a $375.00 price target on shares of Boeing in a research note on Friday, July 12th. 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 stock. The stock currently has an average rating of “Hold” and an average price target of $402.65.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.33 earnings per share. As a group, sell-side analysts predict that Boeing Co will post 4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 9th were given a dividend of $2.055 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $8.22 annualized dividend and a yield of 2.17%. 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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