Texas Permanent School Fund lessened its holdings in shares of Boeing Co (NYSE:BA) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,832 shares of the aircraft producer’s stock after selling 1,146 shares during the quarter. Boeing comprises 0.6% of Texas Permanent School Fund’s portfolio, making the stock its 28th biggest holding. Texas Permanent School Fund’s holdings in Boeing were worth $45,072,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BA. Beach Investment Management LLC. bought a new stake in Boeing during the 2nd quarter valued at approximately $429,000. Whalerock Point Partners LLC increased its stake in Boeing by 1.1% in the 2nd quarter. Whalerock Point Partners LLC now owns 7,521 shares of the aircraft producer’s stock worth $1,487,000 after acquiring an additional 85 shares during the last quarter. Chicago Equity Partners LLC increased its stake in Boeing by 27.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 43,835 shares of the aircraft producer’s stock worth $8,668,000 after acquiring an additional 9,460 shares during the last quarter. Budros Ruhlin & Roe Inc. increased its stake in Boeing by 6.3% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 1,324 shares of the aircraft producer’s stock worth $262,000 after acquiring an additional 78 shares during the last quarter. Finally, Swiss National Bank increased its stake in Boeing by 2.3% in the 2nd quarter. Swiss National Bank now owns 2,125,891 shares of the aircraft producer’s stock worth $420,395,000 after acquiring an additional 48,500 shares during the last quarter. 76.55% of the stock is currently owned by institutional investors.
In related news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is owned by insiders.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter in the previous year, the business earned $2.47 EPS. Boeing’s revenue was up 8.9% compared to the same quarter last year. research analysts forecast that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its board has initiated a share buyback plan on Monday, December 11th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the aircraft producer to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have issued reports on the company. Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $288.75 price objective on the stock in a research note on Monday, December 11th. Berenberg Bank set a $395.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Monday, January 29th. Buckingham Research reaffirmed a “hold” rating and issued a $203.00 price objective on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $339.00 price objective on shares of Boeing in a research note on Monday, January 8th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $365.00 price objective (up previously from $330.00) on shares of Boeing in a research note on Thursday, February 1st. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $358.47.
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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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