Prospera Financial Services Inc reduced its stake in Boeing Co (NYSE:BA) by 55.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,830 shares of the aircraft producer’s stock after selling 7,319 shares during the quarter. Prospera Financial Services Inc’s holdings in Boeing were worth $1,721,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Stonehearth Capital Management LLC acquired a new position in shares of Boeing during the fourth quarter worth approximately $105,000. Solaris Asset Management LLC acquired a new position in shares of Boeing during the fourth quarter worth approximately $111,000. Lipe & Dalton acquired a new position in shares of Boeing during the third quarter worth approximately $100,000. Burt Wealth Advisors acquired a new position in shares of Boeing in the third quarter valued at $100,000. Finally, Cerebellum GP LLC acquired a new position in shares of Boeing in the fourth quarter valued at $128,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.
Shares of Boeing Co (NYSE BA) opened at $338.67 on Wednesday. Boeing Co has a 1 year low of $173.75 and a 1 year high of $371.60. The firm has a market capitalization of $202,552.47, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.78 and a beta of 1.37. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37.
Boeing announced that its Board of Directors has approved a stock repurchase program on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
BA has been the subject of a number of recent research reports. Royal Bank of Canada set a $290.00 target price on Boeing and gave the company a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group restated a “buy” rating and issued a $339.00 target price on shares of Boeing in a research note on Monday, January 8th. JPMorgan Chase & Co. set a $325.00 target price on Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Edward Jones upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Finally, Buckingham Research set a $203.00 target price on Boeing and gave the company a “hold” rating in a research note on Thursday, December 28th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $358.47.
In other news, CFO Gregory D. Smith sold 36,079 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.28% of the stock is currently owned by corporate 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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