Sound Income Strategies LLC Cuts Holdings in Boeing Co (NYSE:BA)

Sound Income Strategies LLC cut its position in Boeing Co (NYSE:BA) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,801 shares of the aircraft producer’s stock after selling 158 shares during the quarter. Boeing makes up approximately 0.7% of Sound Income Strategies LLC’s investment portfolio, making the stock its 20th largest holding. Sound Income Strategies LLC’s holdings in Boeing were worth $1,414,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. purchased a new stake in shares of Boeing during the second quarter worth $101,000. Interactive Financial Advisors acquired a new stake in Boeing during the third quarter worth about $112,000. Rational Advisors LLC grew its position in Boeing by 159.5% during the third quarter. Rational Advisors LLC now owns 327 shares of the aircraft producer’s stock worth $122,000 after buying an additional 201 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Boeing during the second quarter worth about $125,000. Finally, TLP Group LLC acquired a new stake in Boeing during the third quarter worth about $139,000. Institutional investors and hedge funds own 76.86% of the company’s stock.

Shares of BA stock opened at $410.58 on Thursday. The firm has a market capitalization of $229.94 billion, a PE ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.31. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. Boeing Co has a 12-month low of $292.47 and a 12-month high of $413.88.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, topping the consensus estimate of $4.52 by $0.96. The firm had revenue of $28.34 billion for the quarter, compared to analysts’ expectations of $26.76 billion. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 EPS. Equities analysts expect that Boeing Co will post 20.14 EPS for the current fiscal year.

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

Boeing announced that its board has approved a share repurchase program on Monday, December 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

BA has been the topic of a number of recent research reports. Goldman Sachs Group set a $387.00 target price on Boeing and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. Morgan Stanley raised Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $400.00 to $450.00 in a research report on Wednesday, January 9th. Credit Suisse Group lifted their target price on Boeing from $455.00 to $456.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. Cowen reissued a “buy” rating and set a $445.00 target price on shares of Boeing in a research report on Tuesday, November 13th. Finally, Sanford C. Bernstein lifted their price objective on Boeing from $426.00 to $440.00 and gave the company a “positive” rating in a report on Friday, October 26th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $413.27.

In other news, EVP Timothy John Keating sold 26,557 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $395.47, for a total transaction of $10,502,496.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory D. Smith sold 19,500 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $401.38, for a total transaction of $7,826,910.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,331 shares of company stock worth $27,724,967 in the last quarter. 0.24% of the stock is currently owned by company insiders.

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About Boeing

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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