Oppenheimer Asset Management Inc. Cuts Holdings in Boeing Co (BA)

Oppenheimer Asset Management Inc. lowered its position in Boeing Co (NYSE:BA) by 25.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,255 shares of the aircraft producer’s stock after selling 9,295 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Boeing were worth $10,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC boosted its stake in shares of Boeing by 16.0% during the second quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock valued at $2,488,029,000 after purchasing an additional 1,023,959 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Boeing by 23.3% during the second quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after purchasing an additional 1,121,675 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Boeing by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 5,158,335 shares of the aircraft producer’s stock valued at $1,730,674,000 after purchasing an additional 227,374 shares during the period. American Century Companies Inc. boosted its stake in shares of Boeing by 2.0% during the second quarter. American Century Companies Inc. now owns 2,898,444 shares of the aircraft producer’s stock valued at $972,457,000 after purchasing an additional 56,375 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Boeing by 33,433.9% during the second quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock valued at $7,169,000 after purchasing an additional 2,402,561 shares during the period. 70.13% of the stock is owned by institutional investors and hedge funds.

NYSE BA opened at $342.56 on Friday. Boeing Co has a 12 month low of $266.15 and a 12 month high of $394.28. The firm has a market capitalization of $189.39 billion, a PE ratio of 28.45, a P/E/G ratio of 1.66 and a beta of 1.30. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.32 and a current ratio of 1.10.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $25.15 billion for the quarter, compared to analysts’ expectations of $23.84 billion. During the same period in the prior year, the firm posted $2.72 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Boeing Co will post 15.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.00%. Boeing’s dividend payout ratio is currently 56.81%.

In related 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 transaction of $1,750,350.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

A number of research firms have recently weighed in on BA. Zacks Investment Research raised 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. Tigress Financial reissued a “buy” rating on shares of Boeing in a research note on Monday. Jefferies Financial Group increased their price objective on Boeing from $415.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Finally, Canaccord Genuity restated a “hold” rating and set a $360.00 target price (up previously from $350.00) on shares of Boeing in a report on Thursday, October 25th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $410.21.

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Boeing 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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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