LaFleur & Godfrey LLC decreased its holdings in Boeing Co (NYSE:BA) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,334 shares of the aircraft producer’s stock after selling 2,083 shares during the quarter. Boeing accounts for about 2.8% of LaFleur & Godfrey LLC’s holdings, making the stock its 14th largest holding. LaFleur & Godfrey LLC’s holdings in Boeing were worth $11,653,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its stake in Boeing by 23.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock worth $1,989,009,000 after buying an additional 1,121,675 shares in the last quarter. FMR LLC increased its stake in Boeing by 15.1% during 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 in the last quarter. Capital International Investors increased its stake in Boeing by 26.1% during 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 in the last quarter. Winslow Capital Management LLC increased its stake in Boeing by 50.1% during the 3rd quarter. Winslow Capital Management LLC now owns 1,217,030 shares of the aircraft producer’s stock worth $452,613,000 after buying an additional 406,078 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Boeing by 240.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 532,010 shares of the aircraft producer’s stock worth $197,855,000 after buying an additional 375,900 shares in the last quarter. 69.55% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group set a $420.00 price target on Boeing and gave the company a “buy” rating in a research report on Tuesday, November 13th. Morgan Stanley upgraded Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $400.00 to $450.00 in a research report on Wednesday, January 9th. Argus restated a “fair value” rating and issued a $395.00 price target on shares of Boeing in a research report on Thursday, October 25th. Cowen restated a “buy” rating and issued a $445.00 price target on shares of Boeing in a research report on Tuesday, December 18th. Finally, UBS Group restated a “buy” rating on shares of Boeing in a research report on Wednesday, January 9th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $412.08.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $28.34 billion for the quarter, compared to analysts’ expectations of $26.76 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that Boeing Co will post 20.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be paid a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.03%. This is a boost from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Thursday, February 7th. Boeing’s dividend payout ratio is 51.34%.
Boeing announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 17th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Boeing news, EVP Timothy John Keating sold 26,557 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $395.47, for a total transaction of $10,502,496.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.
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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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