Fulton Bank N.A. Decreases Holdings in Boeing Co (BA)
Fulton Bank N.A. trimmed its holdings in Boeing Co (NYSE:BA) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,995 shares of the aircraft producer’s stock after selling 238 shares during the quarter. Fulton Bank N.A.’s holdings in Boeing were worth $2,033,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Buckingham Asset Management LLC increased its holdings in shares of Boeing by 0.5% during the 1st quarter. Buckingham Asset Management LLC now owns 13,965 shares of the aircraft producer’s stock worth $2,470,000 after buying an additional 65 shares during the last quarter. Heritage Trust Co acquired a new stake in shares of Boeing during the 1st quarter worth approximately $361,000. Outfitter Advisors LTD. increased its holdings in shares of Boeing by 20.9% during the 1st quarter. Outfitter Advisors LTD. now owns 4,052 shares of the aircraft producer’s stock worth $717,000 after buying an additional 700 shares during the last quarter. Pitcairn Co. increased its holdings in shares of Boeing by 93.9% during the 1st quarter. Pitcairn Co. now owns 7,048 shares of the aircraft producer’s stock worth $1,246,000 after buying an additional 3,413 shares during the last quarter. Finally, Ffcm LLC increased its holdings in shares of Boeing by 6.9% during the 1st quarter. Ffcm LLC now owns 38,380 shares of the aircraft producer’s stock worth $6,788,000 after buying an additional 2,490 shares during the last quarter. 70.97% of the stock is currently owned by institutional investors and hedge funds.
Boeing Co (NYSE BA) opened at $293.94 on Friday. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39. Boeing Co has a 1 year low of $153.14 and a 1 year high of $297.37. The company has a market cap of $175,040.97, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The company had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same quarter last year, the company posted $3.51 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities research analysts forecast that Boeing Co will post 10.1 earnings per share for the current fiscal year.
Boeing declared that its Board of Directors has approved a stock buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is currently 52.21%.
Several research firms recently weighed in on BA. Royal Bank of Canada set a $290.00 target price on shares of Boeing and gave the company a “hold” rating in a report on Wednesday, November 15th. Jefferies Group lifted their target price on shares of Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Canaccord Genuity reiterated a “hold” rating and issued a $235.00 target price (up previously from $215.00) on shares of Boeing in a report on Sunday, September 17th. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a report on Tuesday, October 10th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Boeing currently has a consensus rating of “Buy” and a consensus price target of $266.73.
Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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