Boeing Co (NYSE:BA) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC reduced its stake in shares of Boeing Co (NYSE:BA) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,320 shares of the aircraft producer’s stock after selling 50 shares during the quarter. Palisade Asset Management LLC’s holdings in Boeing were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thoroughbred Financial Services LLC grew its position in shares of Boeing by 36,928.2% in the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock valued at $623,555,000 after purchasing an additional 6,218,711 shares during the last quarter. FMR LLC grew its position in shares of Boeing by 26.5% in the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after purchasing an additional 2,311,630 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Boeing by 33.6% in the fourth quarter. Two Sigma Advisers LP now owns 995,560 shares of the aircraft producer’s stock valued at $321,068,000 after purchasing an additional 250,600 shares during the last quarter. Mackay Shields LLC acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $77,540,000. Finally, Geode Capital Management LLC grew its position in shares of Boeing by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock valued at $2,015,856,000 after purchasing an additional 214,945 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Several analysts have recently commented on BA shares. Jefferies Financial Group lowered their price target 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 downgraded 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 note on Thursday, July 25th. JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TheStreet downgraded shares of Boeing from an “a+” rating to a “c+” rating in a research note on Wednesday, April 24th. Finally, Berenberg Bank set a $400.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $403.10.

NYSE:BA traded down $0.64 during trading hours on Tuesday, reaching $330.42. 1,169,296 shares of the company were exchanged, compared to its average volume of 4,988,628. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. The stock has a market cap of $191.07 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 10.25 and a beta of 1.27. Boeing Co has a 52-week low of $292.47 and a 52-week high of $446.01. The company’s 50 day moving average is $359.13.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. Boeing’s revenue was down 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.33 earnings per share. On average, analysts forecast that Boeing Co will post 4.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be paid a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio is currently 51.34%.

Boeing 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.

Further Reading: How mutual funds make money

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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