Boeing Co (BA) Stake Lowered by Bowling Portfolio Management LLC

Bowling Portfolio Management LLC decreased its holdings in shares of Boeing Co (NYSE:BA) by 72.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,847 shares of the aircraft producer’s stock after selling 15,004 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Boeing were worth $1,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BA. FMR LLC lifted its position in Boeing by 15.1% in the 3rd quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock worth $3,174,259,000 after buying an additional 1,119,587 shares during the last quarter. Jennison Associates LLC lifted its position in Boeing by 3.3% in the 3rd quarter. Jennison Associates LLC now owns 7,572,179 shares of the aircraft producer’s stock worth $2,816,093,000 after buying an additional 242,669 shares during the last quarter. Janus Henderson Group PLC lifted its position in Boeing by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,085,525 shares of the aircraft producer’s stock worth $2,263,213,000 after buying an additional 157,237 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Boeing by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,158,335 shares of the aircraft producer’s stock worth $1,730,674,000 after buying an additional 227,374 shares during the last quarter. Finally, Capital International Investors lifted its position in Boeing by 26.1% in the 3rd quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock worth $1,802,956,000 after buying an additional 1,002,825 shares during the last quarter. 76.86% of the stock is owned by institutional investors.

Several brokerages have weighed in on BA. Goldman Sachs Group set a $387.00 price objective on Boeing and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Jefferies Financial Group boosted their price objective on Boeing from $415.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Societe Generale set a $409.00 price objective on Boeing and gave the company a “buy” rating in a research report on Thursday, October 25th. Argus reiterated a “fair value” rating and issued a $395.00 price objective on shares of Boeing in a research 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 research report on Thursday, October 25th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $413.27.

In related news, CFO Gregory D. Smith sold 19,500 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $401.38, for a total value of $7,826,910.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP J Michael Luttig sold 8,500 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $410.46, for a total value of $3,488,910.00. The disclosure for this sale can be found here. Insiders have sold 69,331 shares of company stock worth $27,724,967 over the last three months. Insiders own 0.24% of the company’s stock.

BA opened at $410.58 on Thursday. The company has a debt-to-equity ratio of 25.99, a quick ratio of 0.31 and a current ratio of 1.08. Boeing Co has a 52-week low of $292.47 and a 52-week high of $413.88. The company has a market cap of $229.94 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.52 by $0.96. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The firm had revenue of $28.34 billion for the quarter, compared to analysts’ expectations of $26.76 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts anticipate that Boeing Co will post 20.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be paid a dividend of $2.055 per share. The ex-dividend date is Thursday, February 7th. This is a boost from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 annualized dividend and a dividend yield of 2.00%. Boeing’s payout ratio is 51.34%.

Boeing announced that its Board of Directors has authorized a stock buyback program on Monday, December 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to purchase up to 11.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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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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