Neuberger Berman Group LLC Sells 159,094 Shares of Boeing Co. (BA)
Neuberger Berman Group LLC lowered its stake in Boeing Co. (NYSE:BA) by 7.8% during the third quarter, Holdings Channel reports. The fund owned 1,878,478 shares of the aircraft producer’s stock after selling 159,094 shares during the period. Neuberger Berman Group LLC’s holdings in Boeing were worth $247,471,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Phocas Financial Corp. raised its position in Boeing by 1,051.6% in the first quarter. Phocas Financial Corp. now owns 29,515 shares of the aircraft producer’s stock valued at $3,747,000 after buying an additional 26,952 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in Boeing by 167.1% in the first quarter. BlueMountain Capital Management LLC now owns 6,056 shares of the aircraft producer’s stock worth $769,000 after buying an additional 3,789 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Boeing by 30.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,513 shares of the aircraft producer’s stock worth $326,000 after buying an additional 591 shares in the last quarter. Cullinan Associates Inc. raised its stake in Boeing by 1.8% in the second quarter. Cullinan Associates Inc. now owns 28,501 shares of the aircraft producer’s stock worth $3,701,000 after buying an additional 500 shares in the last quarter. Finally, Osborn Rohs Williams & Donohoe Ltd raised its stake in Boeing by 2.5% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 4,100 shares of the aircraft producer’s stock worth $532,000 after buying an additional 100 shares in the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boeing Co. (NYSE:BA) opened at 149.77 on Tuesday. The stock has a market cap of $92.43 billion, a P/E ratio of 22.89 and a beta of 1.02. Boeing Co. has a 12 month low of $102.10 and a 12 month high of $150.81. The stock has a 50 day moving average price of $141.96 and a 200-day moving average price of $133.86.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.89. Boeing had a return on equity of 126.01% and a net margin of 4.52%. The business earned $23.90 billion during the quarter, compared to analyst estimates of $23.73 billion. During the same period in the prior year, the company posted $2.52 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, analysts forecast that Boeing Co. will post $7.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, November 8th. Boeing’s dividend payout ratio (DPR) is 66.36%.
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BA has been the topic of a number of analyst reports. Citigroup Inc. reduced their price target on Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, September 19th. Goldman Sachs Group Inc. set a $109.00 price target on Boeing and gave the company a “sell” rating in a research report on Thursday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $165.00 price target on shares of Boeing in a research report on Saturday, October 8th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a research report on Wednesday, September 28th. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $148.00 target price on shares of Boeing in a research report on Friday, September 23rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $147.99.
In related news, EVP J Michael Luttig sold 200,754 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $142.46, for a total value of $28,599,414.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.
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.
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