Stratos Wealth Partners LTD. purchased a new stake in Boeing Co (NYSE:BA) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 22,953 shares of the aircraft producer’s stock, valued at approximately $7,402,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Ironwood Financial llc purchased a new stake in shares of Boeing during the 4th quarter valued at $32,000. Proffitt & Goodson Inc. grew its stake in shares of Boeing by 1,371.4% during the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock valued at $33,000 after buying an additional 96 shares during the period. 1 North Wealth Services LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $40,000. Contravisory Investment Management Inc. grew its stake in shares of Boeing by 159.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock valued at $45,000 after buying an additional 86 shares during the period. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Boeing during the 4th quarter valued at $60,000. Institutional investors own 69.85% of the company’s stock.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Boeing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Cowen reissued a “buy” rating and set a $460.00 price objective on shares of Boeing in a research note on Monday, April 8th. Barclays cut shares of Boeing from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $417.00 to $367.00 in a research report on Tuesday. ValuEngine cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $440.00 price target on shares of Boeing in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $410.82.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.05. The company had revenue of $22.92 billion during the quarter, compared to analysts’ expectations of $23.04 billion. Boeing had a net margin of 10.06% and a negative return on equity of 1,857.97%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.64 EPS. As a group, equities analysts expect that Boeing Co will post 14.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a $2.055 dividend. The ex-dividend date is Thursday, May 9th. This represents a $8.22 dividend on an annualized basis and a yield of 2.32%. Boeing’s payout ratio is currently 51.34%.
In other Boeing news, SVP Theodore Colbert III sold 2,137 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $408.85, for a total value of $873,712.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Heidi B. Capozzi sold 2,916 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $410.84, for a total transaction of $1,198,009.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,553 shares of company stock valued at $5,560,632. 0.23% of the stock is currently owned by corporate insiders.
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Boeing Company 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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