Spearhead Capital Advisors LLC acquired a new position in shares of Boeing Co (NYSE:BA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,528 shares of the aircraft producer’s stock, valued at approximately $3,105,000. Boeing makes up approximately 1.5% of Spearhead Capital Advisors LLC’s holdings, making the stock its 9th biggest position.
Several other large investors have also recently bought and sold shares of BA. Vanguard Group Inc. grew its stake in Boeing by 1.0% in the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after purchasing an additional 407,511 shares in the last quarter. Jennison Associates LLC grew its stake in Boeing by 20.3% in the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after purchasing an additional 1,160,859 shares in the last quarter. Janus Henderson Group PLC grew its stake in Boeing by 7,215.0% in the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Boeing by 13.3% in the third quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after purchasing an additional 402,240 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Boeing by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,275,519 shares of the aircraft producer’s stock valued at $965,756,000 after purchasing an additional 122,278 shares in the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.
BA has been the subject of a number of analyst reports. Buckingham Research set a $289.00 price target on Boeing and gave the company a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target for the company in a research note on Tuesday, January 2nd. Canaccord Genuity restated 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 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 target on Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $358.47.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $2.47 EPS. analysts predict that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction that occurred 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 can be accessed through this hyperlink. Company insiders own 0.28% of the company’s stock.
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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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