Community Trust & Investment Co. reduced its holdings in Boeing Co (NYSE:BA) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,704 shares of the aircraft producer’s stock after selling 13,585 shares during the quarter. Boeing accounts for about 2.5% of Community Trust & Investment Co.’s investment portfolio, making the stock its 15th largest position. Community Trust & Investment Co.’s holdings in Boeing were worth $21,460,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CSat Investment Advisory L.P. purchased a new position in shares of Boeing in the 2nd quarter worth about $101,000. Icon Wealth Partners LLC purchased a new position in shares of Boeing in the 2nd quarter worth about $125,000. James Hambro & Partners purchased a new position in shares of Boeing in the 2nd quarter worth about $142,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Boeing in the 2nd quarter worth about $163,000. Finally, Avestar Capital LLC boosted its holdings in shares of Boeing by 544.7% in the 2nd quarter. Avestar Capital LLC now owns 490 shares of the aircraft producer’s stock worth $161,000 after purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 69.64% of the company’s stock.
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 stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $602,732.80. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Shares of BA stock opened at $323.22 on Friday. The stock has a market cap 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. Boeing Co has a 1-year low of $279.90 and a 1-year high of $394.28. 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 (NYSE:BA) last issued its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.11. The company had revenue of $25.15 billion during the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. Boeing’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 EPS. As a group, equities research analysts expect that Boeing Co will post 15.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 9th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, November 8th. Boeing’s dividend payout ratio (DPR) is currently 56.81%.
A number of research firms have recently issued reports on BA. Goldman Sachs Group set a $387.00 price objective on Boeing and gave the stock a “neutral” rating in a report on Wednesday, October 24th. Berenberg Bank reiterated a “buy” rating and issued a $430.00 price objective on shares of Boeing in a report on Monday, September 3rd. Argus reiterated a “fair value” rating and issued a $395.00 price objective on shares of Boeing in a report on Thursday, October 25th. Sanford C. Bernstein upped their price objective on Boeing from $426.00 to $440.00 and gave the stock a “positive” rating in a report on Friday, October 26th. Finally, Jefferies Financial Group set a $420.00 price objective on Boeing and gave the stock a “buy” rating in a report on Tuesday, November 13th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $410.21.
COPYRIGHT VIOLATION NOTICE: This article was reported by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/12/08/boeing-co-ba-shares-sold-by-community-trust-investment-co.html.
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.
Recommended Story: What are different types of coverage ratios?
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.