1ST Source Bank increased its stake in shares of Boeing Co (NYSE:BA) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,430 shares of the aircraft producer’s stock after purchasing an additional 383 shares during the period. 1ST Source Bank’s holdings in Boeing were worth $4,506,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of BA. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Boeing by 220.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock valued at $105,000 after acquiring an additional 220 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Boeing in the 1st quarter valued at $108,000. Advisors Preferred LLC acquired a new position in Boeing in the 1st quarter valued at $111,000. SWS Partners acquired a new position in Boeing in the 4th quarter valued at $123,000. Finally, Lucia Wealth Services LLC acquired a new position in Boeing in the 1st quarter valued at $126,000. Hedge funds and other institutional investors own 69.74% of the company’s stock.
BA stock opened at $355.46 on Friday. The firm has a market cap of $198.35 billion, a PE ratio of 29.52, a PEG ratio of 1.72 and a beta of 1.44. The company has a debt-to-equity ratio of -7.65, a current ratio of 1.11 and a quick ratio of 0.32. Boeing Co has a 52 week low of $242.50 and a 52 week high of $374.48.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The firm had revenue of $24.26 billion for the quarter, compared to analyst estimates of $24.02 billion. Boeing had a return on equity of 2,344.87% and a net margin of 9.92%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.55 earnings per share. analysts forecast that Boeing Co will post 14.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 10th were given a dividend of $1.71 per share. The ex-dividend date was Thursday, August 9th. This represents a $6.84 dividend on an annualized basis and a yield of 1.92%. Boeing’s dividend payout ratio (DPR) is 56.81%.
Several brokerages have weighed in on BA. Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 price target on shares of Boeing in a report on Sunday, July 29th. UBS Group boosted their price target on Boeing from $325.00 to $357.00 and gave the company a “neutral” rating in a report on Thursday, July 26th. Credit Suisse Group reiterated a “buy” rating and issued a $455.00 price target on shares of Boeing in a report on Thursday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 price target on shares of Boeing in a report on Thursday, July 26th. Finally, Buckingham Research boosted their price target on Boeing from $289.00 to $324.00 and gave the company a “hold” rating in a report on Monday, June 4th. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $396.41.
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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