Corrado Advisors LLC reduced its stake in Boeing Co (NYSE:BA) by 17.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 8,671 shares of the aircraft producer’s stock after selling 1,888 shares during the quarter. Boeing accounts for approximately 2.1% of Corrado Advisors LLC’s portfolio, making the stock its 19th largest holding. Corrado Advisors LLC’s holdings in Boeing were worth $3,225,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of BA. CSat Investment Advisory L.P. purchased a new stake in Boeing during the second quarter valued at about $101,000. Mount Yale Investment Advisors LLC purchased a new stake in Boeing during the first quarter valued at about $108,000. Icon Wealth Partners LLC purchased a new stake in Boeing during the second quarter valued at about $125,000. Institutional & Family Asset Management LLC purchased a new stake in Boeing during the first quarter valued at about $139,000. Finally, James Hambro & Partners purchased a new stake in Boeing during the second quarter valued at about $142,000. 70.42% of the stock is currently owned by institutional investors.
BA stock opened at $369.34 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.32 and a debt-to-equity ratio of 8.07. The company has a market capitalization of $208.11 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.77 and a beta of 1.30. Boeing Co has a 1-year low of $259.60 and a 1-year high of $394.28.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $0.11. The company had revenue of $25.15 billion for the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. Boeing’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.72 earnings per share. As a group, sell-side analysts predict that Boeing Co will post 15.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 8th. Boeing’s dividend payout ratio (DPR) is 56.81%.
BA has been the topic of several recent research reports. Credit Suisse Group reaffirmed a “buy” rating and set a $455.00 price objective on shares of Boeing in a report on Thursday, July 26th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $400.00 price target on shares of Boeing in a report on Thursday, July 26th. Berenberg Bank reissued a “buy” rating and issued a $430.00 price target on shares of Boeing in a report on Monday, September 3rd. UBS Group began coverage on shares of Boeing in a report on Wednesday, August 15th. They issued a “buy” rating and a $515.00 price target on the stock. Finally, Robert W. Baird reissued a “buy” rating and issued a $450.00 price target on shares of Boeing in a report on Monday, August 13th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $410.21.
In related news, SVP Diana L. Sands sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $350.07, for a total value of $1,750,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.
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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