Crossvault Capital Management LLC lessened its position in shares of Boeing Co (NYSE:BA) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,485 shares of the aircraft producer’s stock after selling 675 shares during the period. Boeing comprises 5.2% of Crossvault Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Crossvault Capital Management LLC’s holdings in Boeing were worth $9,875,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after acquiring an additional 407,511 shares in the last quarter. Jennison Associates LLC grew its holdings in Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after acquiring an additional 1,160,859 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after acquiring an additional 4,852,679 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock worth $870,618,000 after acquiring an additional 402,240 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Boeing by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,275,519 shares of the aircraft producer’s stock worth $965,756,000 after acquiring an additional 122,278 shares in the last quarter. Institutional investors own 76.55% of the company’s stock.
BA has been the subject of several analyst reports. Royal Bank of Canada set a $290.00 price target on shares of Boeing and gave the stock a “hold” rating in a report on Wednesday, November 15th. Jefferies Group upped their target price on shares of Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Vetr cut shares of Boeing from a “hold” rating to a “sell” rating and set a $263.71 target price for the company. in a report on Friday, December 1st. ValuEngine cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $290.00 target price (up previously from $270.00) on shares of Boeing 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 company. The stock presently has a consensus rating of “Buy” and an average target price of $358.47.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. Boeing’s revenue for the quarter was up 8.9% on a year-over-year basis. equities analysts forecast that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction 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 available at this hyperlink. 0.28% of the stock is currently owned by corporate insiders.
Boeing Company Profile
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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