Webster Bank N. A. reduced its position in shares of Boeing Co (NYSE:BA) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,738 shares of the aircraft producer’s stock after selling 1,005 shares during the quarter. Webster Bank N. A.’s holdings in Boeing were worth $5,526,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BA. Janus Henderson Group PLC lifted its stake in Boeing by 7,215.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares in the last quarter. Jennison Associates LLC lifted its stake in Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares in the last quarter. Koch Industries Inc. lifted its stake in Boeing by 61,128.7% in the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after buying an additional 848,467 shares in the last quarter. Stifel Financial Corp lifted its stake in Boeing by 19,958.0% in the 3rd quarter. Stifel Financial Corp now owns 833,410 shares of the aircraft producer’s stock valued at $212,108,000 after buying an additional 829,255 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in Boeing by 28,537.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after buying an additional 779,936 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors and hedge funds.
BA has been the topic of a number of research reports. Buckingham Research set a $289.00 price target on shares of Boeing and gave the company a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target on the stock in a research note on Tuesday, January 2nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $345.00 price target (up from $290.00) on shares of Boeing in a research note on Thursday, February 1st. Robert W. Baird set a $433.00 price target on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Boeing has a consensus rating of “Buy” and a consensus price target of $358.47.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 EPS. research analysts forecast that Boeing Co will post 14.05 earnings per share for the current fiscal year.
Boeing announced that its Board of Directors has initiated a share buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Gregory D. Smith sold 36,079 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is owned by company insiders.
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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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