World Asset Management Inc trimmed its position in shares of Boeing Co (NYSE:BA) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,350 shares of the aircraft producer’s stock after selling 984 shares during the quarter. Boeing accounts for approximately 0.6% of World Asset Management Inc’s portfolio, making the stock its 25th largest holding. World Asset Management Inc’s holdings in Boeing were worth $13,147,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BA. Summit Trail Advisors LLC boosted its holdings in shares of Boeing by 33,457.1% in the 1st quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock worth $3,701,000 after buying an additional 3,689,648 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Boeing by 33,433.9% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock valued at $7,169,000 after acquiring an additional 2,402,561 shares during the period. Janus Henderson Group PLC raised its stake in Boeing by 23.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after acquiring an additional 1,121,675 shares during the period. FMR LLC raised its stake in Boeing by 16.0% in the 2nd quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock valued at $2,488,029,000 after acquiring an additional 1,023,959 shares during the period. Finally, Boston Partners bought a new stake in Boeing in the 2nd quarter valued at about $328,421,000. 70.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. Morgan Stanley set a $400.00 price objective on Boeing and gave the company a “hold” rating in a research note on Friday, September 28th. Cowen restated a “buy” rating and issued a $445.00 price objective on shares of Boeing in a research note on Monday, October 1st. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Credit Suisse Group upped their price target on Boeing from $455.00 to $456.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. Finally, Sanford C. Bernstein upped their price target on Boeing from $426.00 to $440.00 and gave the company a “positive” rating in a research report on Friday, October 26th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $410.21.
Shares of NYSE BA opened at $369.34 on Friday. Boeing Co has a 12 month low of $259.60 and a 12 month 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 stock has a market cap of $211.26 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.80 and a beta of 1.30.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $25.15 billion during the quarter, compared to analyst estimates of $23.84 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. Boeing’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Boeing Co will post 15.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Thursday, November 8th. Boeing’s payout ratio is 56.81%.
In other news, SVP Diana L. Sands sold 5,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.
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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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