Stonebridge Capital Management Inc. Reduces Holdings in Boeing Co (NYSE:BA)

Stonebridge Capital Management Inc. decreased its holdings in Boeing Co (NYSE:BA) by 4.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,598 shares of the aircraft producer’s stock after selling 450 shares during the quarter. Boeing accounts for 1.4% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 21st largest position. Stonebridge Capital Management Inc.’s holdings in Boeing were worth $3,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after buying an additional 41 shares during the last quarter. Next Capital Management LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $32,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $40,000. Semmax Financial Advisors Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $45,000. Finally, INR Advisory Services LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $57,000. 68.97% of the stock is currently owned by institutional investors.

BA stock traded up $0.43 during mid-day trading on Friday, reaching $334.72. 1,792,249 shares of the stock traded hands, compared to its average volume of 4,439,226. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.03 and a quick ratio of 0.29. Boeing Co has a one year low of $292.47 and a one year high of $446.01. The firm has a market cap of $188.11 billion, a PE ratio of 20.91, a PEG ratio of 10.49 and a beta of 1.30. The company has a 50-day simple moving average of $359.99.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The business had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the previous year, the business posted $3.33 earnings per share. The business’s revenue was down 35.1% compared to the same quarter last year. As a group, equities analysts anticipate that Boeing Co will post 4.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is 51.34%.

Several equities research analysts have recently issued reports on BA shares. Jefferies Financial Group reduced their price objective on shares of Boeing from $448.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Wolfe Research cut shares of Boeing from an “outperform” rating to a “peer perform” rating and reduced their price objective for the company from $404.00 to $393.00 in a research report on Thursday, July 25th. Canaccord Genuity set a $380.00 price objective on shares of Boeing and gave the company a “hold” rating in a research report on Friday, July 19th. TheStreet cut shares of Boeing from an “a+” rating to a “c+” rating in a research report on Wednesday, April 24th. Finally, Citigroup set a $430.00 price target on shares of Boeing and gave the stock a “buy” rating in a research report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Boeing has an average rating of “Hold” and an average target price of $403.79.

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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