Hennessy Advisors Inc. Has $9.32 Million Stake in Boeing Co (BA)
Hennessy Advisors Inc. lessened its position in Boeing Co (NYSE:BA) by 34.3% in the 3rd quarter, Holdings Channel reports. The fund owned 36,650 shares of the aircraft producer’s stock after selling 19,100 shares during the period. Hennessy Advisors Inc.’s holdings in Boeing were worth $9,317,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Clear Perspective Advisors LLC lifted its holdings in Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after buying an additional 135 shares in the last quarter. Vantage Investment Advisors LLC lifted its holdings in Boeing by 11.1% during the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after buying an additional 84 shares in the last quarter. CWH Capital Management Inc. bought a new stake in Boeing during the 2nd quarter valued at about $134,000. Catamount Wealth Management bought a new stake in Boeing during the 2nd quarter valued at about $138,000. Finally, Herndon Capital Management LLC lifted its holdings in Boeing by 29.7% during the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 70.87% of the company’s stock.
A number of equities research analysts recently weighed in on BA shares. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective for the company in a report on Tuesday, January 2nd. Robert W. Baird reissued an “outperform” rating and set a $433.00 target price (up previously from $380.00) on shares of Boeing in a research report on Tuesday. They noted that the move was a valuation call. Canaccord Genuity raised their target price on shares of Boeing from $245.00 to $250.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. JPMorgan Chase & Co. set a $325.00 target price on shares of Boeing and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $253.54 target price on the stock. in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $298.63.
Shares of Boeing Co (NYSE BA) opened at $335.16 on Wednesday. The firm has a market cap of $199,610.00, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23. Boeing Co has a 12-month low of $156.75 and a 12-month high of $347.73. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18.
Boeing (NYSE:BA) last released its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.07. The company had revenue of $24.31 billion for the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. Boeing’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.51 EPS. equities analysts expect that Boeing Co will post 10.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is currently 52.25%.
Boeing announced that its board has authorized a stock repurchase program on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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