Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Boeing Co (NYSE:BA) by 23.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,292 shares of the aircraft producer’s stock after selling 1,924 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Boeing were worth $2,141,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NuWave Investment Management LLC grew its stake in shares of Boeing by 554.5% during the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Boeing by 128.1% during the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after acquiring an additional 41 shares in the last quarter. Guidant Wealth Advisors bought a new position in shares of Boeing during the 2nd quarter worth approximately $28,000. Next Capital Management LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $32,000. Finally, Clarfeld Financial Advisors LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $40,000. 68.65% of the stock is owned by institutional investors and hedge funds.
BA has been the subject of several research reports. 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 note on Tuesday, May 7th. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank reissued a “buy” rating and issued a $400.00 price objective on shares of Boeing in a report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $425.00 price objective on shares of Boeing in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned 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 $403.10.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same quarter last year, the firm posted $3.33 EPS. The company’s quarterly revenue was down 35.1% on a year-over-year basis. Equities research analysts expect that Boeing Co will post 3.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be issued a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio is 51.34%.
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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