Zweig DiMenna Associates LLC reduced its holdings in Boeing Co (NYSE:BA) by 30.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,234 shares of the aircraft producer’s stock after selling 26,704 shares during the quarter. Boeing accounts for about 1.3% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 20th largest holding. Zweig DiMenna Associates LLC’s holdings in Boeing were worth $20,545,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in BA. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Boeing by 220.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock worth $105,000 after buying an additional 220 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of Boeing during the first quarter worth about $108,000. Advisors Preferred LLC acquired a new position in shares of Boeing during the first quarter worth about $111,000. SWS Partners acquired a new position in shares of Boeing during the fourth quarter worth about $123,000. Finally, Lucia Wealth Services LLC acquired a new position in shares of Boeing during the first quarter worth about $126,000. Institutional investors own 69.74% of the company’s stock.
Several research analysts have recently weighed in on BA shares. Canaccord Genuity reaffirmed a “hold” rating and set a $350.00 price objective on shares of Boeing in a research report on Tuesday, July 24th. Cowen reaffirmed a “buy” rating and set a $430.00 price objective on shares of Boeing in a research report on Friday, July 13th. ValuEngine cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Robert W. Baird reissued a “buy” rating and set a $450.00 price target on shares of Boeing in a research report on Monday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $410.00 price target on shares of Boeing in a research report on Sunday, July 29th. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $396.41.
BA opened at $341.86 on Tuesday. Boeing Co has a 12-month low of $237.09 and a 12-month high of $374.48. The company has a market capitalization of $200.66 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.45. The company has a quick ratio of 0.32, a current ratio of 1.11 and a debt-to-equity ratio of -7.65.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.12). Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The business had revenue of $24.26 billion during the quarter, compared to analyst estimates of $24.02 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. equities research analysts anticipate that Boeing Co will post 14.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.00%. Boeing’s payout ratio is 56.81%.
Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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