1832 Asset Management L.P. cut its holdings in Boeing Co (NYSE:BA) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 139,792 shares of the aircraft producer’s stock after selling 9,695 shares during the quarter. 1832 Asset Management L.P.’s holdings in Boeing were worth $45,094,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Arete Wealth Advisors LLC increased its stake in Boeing by 1.3% in the 4th quarter. Arete Wealth Advisors LLC now owns 2,868 shares of the aircraft producer’s stock worth $925,000 after acquiring an additional 38 shares during the last quarter. Two Sigma Advisers LP increased its stake in Boeing by 33.6% in the 4th quarter. Two Sigma Advisers LP now owns 995,560 shares of the aircraft producer’s stock worth $321,068,000 after acquiring an additional 250,600 shares during the last quarter. Family Legacy Inc. increased its stake in Boeing by 1.5% in the 4th quarter. Family Legacy Inc. now owns 7,275 shares of the aircraft producer’s stock worth $2,346,000 after acquiring an additional 108 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new stake in Boeing in the 4th quarter worth approximately $645,000. Finally, Maple Capital Management Inc. increased its stake in Boeing by 782.2% in the 4th quarter. Maple Capital Management Inc. now owns 17,264 shares of the aircraft producer’s stock worth $5,568,000 after acquiring an additional 15,307 shares during the last quarter. 68.95% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on BA shares. Morgan Stanley lifted their price objective on Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. Goldman Sachs Group set a $393.00 price objective on Boeing and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price objective on Boeing to $448.00 and gave the stock a “buy” rating in a research note on Monday, February 4th. JPMorgan Chase & Co. lifted their price objective on Boeing to $450.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Finally, Nord/LB reissued a “sell” rating and set a $300.00 target price on shares of Boeing in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $413.01.
Boeing (NYSE:BA) last released its earnings results on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.05. The firm had revenue of $22.92 billion for the quarter, compared to the consensus estimate of $23.04 billion. Boeing had a negative return on equity of 1,857.97% and a net margin of 10.06%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.64 EPS. On average, equities analysts expect that Boeing Co will post 14.52 earnings per share for the current year.
The firm 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. This represents a $8.22 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, May 9th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.
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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