Arrow Financial Corp boosted its holdings in Boeing Co (NYSE:BA) by 71.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,120 shares of the aircraft producer’s stock after acquiring an additional 1,710 shares during the quarter. Arrow Financial Corp’s holdings in Boeing were worth $1,533,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. CSat Investment Advisory L.P. bought a new position in shares of Boeing during the 2nd quarter valued at $101,000. Mount Yale Investment Advisors LLC bought a new position in shares of Boeing during the 1st quarter valued at $108,000. Icon Wealth Partners LLC bought a new position in shares of Boeing during the 2nd quarter valued at $125,000. Institutional & Family Asset Management LLC bought a new position in shares of Boeing during the 1st quarter valued at $139,000. Finally, James Hambro & Partners bought a new position in shares of Boeing during the 2nd quarter valued at $142,000. 70.42% of the stock is currently owned by institutional investors and hedge funds.
In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $350.07, for a total value of $1,750,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.24% of the company’s stock.
Shares of BA stock opened at $369.34 on Friday. Boeing Co has a 52-week low of $259.60 and a 52-week high of $394.28. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 8.07. The firm has a market capitalization of $208.11 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.47 by $0.11. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The business had revenue of $25.15 billion during the quarter, compared to analyst estimates of $23.84 billion. During the same quarter in the prior year, the business posted $2.72 EPS. Boeing’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that Boeing Co will post 15.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a $1.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $6.84 dividend on an annualized basis and a yield of 1.85%. Boeing’s payout ratio is presently 56.81%.
Several equities research analysts have recently commented on BA shares. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $407.00 price objective for the company in a research note on Friday, October 26th. Credit Suisse Group upped their price objective on Boeing from $455.00 to $456.00 and gave the stock an “outperform” rating in a research note on Thursday, October 25th. Sanford C. Bernstein upped their price objective on Boeing from $426.00 to $440.00 and gave the stock a “positive” rating in a research note on Friday, October 26th. Canaccord Genuity restated a “hold” rating and issued a $360.00 price objective (up from $350.00) on shares of Boeing in a research note on Thursday, October 25th. Finally, Argus restated a “fair value” rating and issued a $395.00 price objective on shares of Boeing in a research note on Thursday, October 25th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $410.21.
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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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