Birinyi Associates Inc. Has $4.20 Million Holdings in Boeing Co (BA)

Birinyi Associates Inc. cut its holdings in shares of Boeing Co (NYSE:BA) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,300 shares of the aircraft producer’s stock after selling 2,850 shares during the quarter. Boeing makes up 1.5% of Birinyi Associates Inc.’s portfolio, making the stock its 14th largest position. Birinyi Associates Inc.’s holdings in Boeing were worth $4,202,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. grace capital bought a new stake in shares of Boeing in the 2nd quarter valued at about $2,996,000. Krilogy Financial LLC raised its holdings in shares of Boeing by 3.5% in the 2nd quarter. Krilogy Financial LLC now owns 6,953 shares of the aircraft producer’s stock valued at $2,333,000 after purchasing an additional 232 shares during the period. Morse Asset Management Inc raised its holdings in shares of Boeing by 3.0% in the 2nd quarter. Morse Asset Management Inc now owns 22,919 shares of the aircraft producer’s stock valued at $7,690,000 after purchasing an additional 674 shares during the period. Kessler Investment Group LLC bought a new stake in shares of Boeing in the 2nd quarter valued at about $1,726,000. Finally, Cumberland Partners Ltd bought a new stake in shares of Boeing in the 2nd quarter valued at about $4,075,000. 69.64% of the stock is currently owned by hedge funds and other institutional investors.

In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were 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 SEC, which is available at this hyperlink. Also, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $367.52, for a total transaction 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 equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $400.00 target price on shares of Boeing in a report on Thursday. Tigress Financial reaffirmed a “buy” rating on shares of Boeing in a report on Monday, November 26th. ValuEngine cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Cowen reaffirmed a “buy” rating and issued a $445.00 target price on shares of Boeing in a report on Tuesday, November 13th. Finally, Jefferies Financial Group set a $420.00 target price on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $410.21.

Shares of BA opened at $323.22 on Friday. Boeing Co has a 52 week low of $279.90 and a 52 week high of $394.28. The stock has a market capitalization of $194.50 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.71 and a beta of 1.30. The company has a current ratio of 1.10, a quick ratio of 0.32 and a debt-to-equity ratio of 8.07.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, beating the Zacks’ consensus estimate of $3.47 by $0.11. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The business had revenue of $25.15 billion for the quarter, compared to analyst estimates of $23.84 billion. During the same quarter in the prior year, the business earned $2.72 EPS. Boeing’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Boeing Co will post 15.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 9th were given a dividend of $1.71 per share. The ex-dividend date was Thursday, November 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.12%. Boeing’s payout ratio is presently 56.81%.

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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.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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