Parallel Advisors LLC increased its position in shares of Boeing Co (NYSE:BA) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,579 shares of the aircraft producer’s stock after purchasing an additional 319 shares during the quarter. Parallel Advisors LLC’s holdings in Boeing were worth $2,075,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CSat Investment Advisory L.P. bought a new position in shares of Boeing in the second quarter worth about $101,000. Icon Wealth Partners LLC bought a new position in shares of Boeing in the second quarter worth about $125,000. James Hambro & Partners bought a new position in shares of Boeing in the second quarter worth about $142,000. Avestar Capital LLC lifted its holdings in shares of Boeing by 544.7% in the second quarter. Avestar Capital LLC now owns 490 shares of the aircraft producer’s stock worth $161,000 after acquiring an additional 414 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Boeing in the second quarter worth about $163,000. 69.64% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $407.00 price objective for the company in a report on Friday, October 26th. Jefferies Financial Group raised their price objective on shares of Boeing to $410.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Cowen reiterated a “buy” rating and issued a $445.00 price objective on shares of Boeing in a report on Monday, October 1st. Credit Suisse Group raised their price objective on shares of Boeing from $455.00 to $456.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $360.00 price objective (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 issued a buy rating to the company’s stock. Boeing currently has an average rating of “Buy” and a consensus price target of $410.21.
NYSE:BA opened at $323.22 on Friday. The company has a market cap of $188.48 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.65 and a beta of 1.30. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.10 and a quick ratio of 0.32. Boeing Co has a fifty-two week low of $279.90 and a fifty-two week high of $394.28.
Boeing (NYSE:BA) last released its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.11. The business had revenue of $25.15 billion during the quarter, compared to the consensus estimate of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.72 EPS. On average, sell-side analysts expect that Boeing Co will post 15.05 EPS for the current year.
The company 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. This represents a $6.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, November 8th. Boeing’s dividend payout ratio is presently 56.81%.
In other Boeing news, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $367.52, for a total transaction of $602,732.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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