State Treasurer State of Michigan cut its stake in Boeing Co. (NYSE:BA) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 202,490 shares of the aircraft producer’s stock after selling 5,500 shares during the period. State Treasurer State of Michigan’s holdings in Boeing were worth $26,676,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BA. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Boeing by 2,998.0% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 151,800 shares of the aircraft producer’s stock valued at $19,998,000 after buying an additional 146,900 shares during the last quarter. Aviance Capital Partners LLC boosted its position in Boeing by 4.2% in the third quarter. Aviance Capital Partners LLC now owns 39,453 shares of the aircraft producer’s stock valued at $5,198,000 after buying an additional 1,597 shares during the last quarter. Decatur Capital Management Inc. boosted its position in Boeing by 2.8% in the third quarter. Decatur Capital Management Inc. now owns 100,474 shares of the aircraft producer’s stock valued at $13,236,000 after buying an additional 2,765 shares during the last quarter. Wealthsource Partners LLC boosted its position in Boeing by 15.3% in the third quarter. Wealthsource Partners LLC now owns 2,449 shares of the aircraft producer’s stock valued at $323,000 after buying an additional 325 shares during the last quarter. Finally, Investment Partners Ltd. OH ADV boosted its position in Boeing by 71.9% in the third quarter. Investment Partners Ltd. OH ADV now owns 12,371 shares of the aircraft producer’s stock valued at $1,630,000 after buying an additional 5,173 shares during the last quarter. 72.90% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Boeing (NYSE:BA)

Boeing Co. (NYSE:BA) traded up 0.22% during trading on Tuesday, hitting $150.10. The company had a trading volume of 523,593 shares. The company has a market capitalization of $92.64 billion, a price-to-earnings ratio of 22.94 and a beta of 1.02. The stock has a 50-day moving average of $141.96 and a 200 day moving average of $133.86. Boeing Co. has a one year low of $102.10 and a one year high of $150.81.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.89. Boeing had a return on equity of 126.01% and a net margin of 4.52%. The business had revenue of $23.90 billion for the quarter, compared to analyst estimates of $23.73 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. Boeing’s revenue was down 7.5% on a year-over-year basis. Equities analysts forecast that Boeing Co. will post $7.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $4.36 annualized dividend and a yield of 2.91%. Boeing’s payout ratio is presently 66.36%.

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Several research analysts recently weighed in on the company. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $142.21 target price for the company. in a research note on Thursday, November 24th. Goldman Sachs Group Inc. set a $109.00 target price on Boeing and gave the company a “sell” rating in a research note on Thursday, October 27th. TheStreet raised Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Societe Generale set a $148.00 target price on Boeing and gave the company a “neutral” rating in a research note on Friday, October 28th. Finally, Argus raised their target price on Boeing from $143.31 to $160.00 and gave the company a “buy” rating in a research note on Friday, October 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. Boeing presently has a consensus rating of “Hold” and a consensus target price of $147.99.

In related news, EVP J Michael Luttig sold 200,754 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $142.46, for a total transaction of $28,599,414.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Boeing Company Profile

The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.

5 Day Chart for NYSE:BA

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