R. G. Niederhoffer Capital Management Inc. Buys Shares of 3,200 Boeing Co (BA)
R. G. Niederhoffer Capital Management Inc. bought a new position in Boeing Co (NYSE:BA) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,200 shares of the aircraft producer’s stock, valued at approximately $813,000. Boeing comprises about 5.2% of R. G. Niederhoffer Capital Management Inc.’s portfolio, making the stock its 6th largest position.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. LMR Partners LLP acquired a new position in Boeing in the second quarter worth approximately $4,904,000. Allegis Investment Advisors LLC acquired a new position in Boeing in the second quarter worth approximately $351,000. Blair William & Co. IL grew its position in Boeing by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock worth $31,170,000 after purchasing an additional 6,141 shares in the last quarter. Alps Advisors Inc. grew its position in Boeing by 46.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock worth $956,000 after purchasing an additional 1,532 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its position in Boeing by 23.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock worth $117,989,000 after purchasing an additional 112,520 shares in the last quarter. 70.87% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on BA. Seaport Global Securities reiterated a “buy” rating and set a $430.00 price objective on shares of Boeing in a research report on Thursday. Vetr upgraded shares of Boeing from a “strong sell” rating to a “sell” rating and set a $303.48 price objective on the stock in a research report on Tuesday. Wolfe Research upgraded shares of Boeing from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Robert W. Baird set a $433.00 price objective on shares of Boeing and gave the stock a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. Finally, Citigroup lifted their price objective on shares of Boeing to $380.00 and gave the stock a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $304.10.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. During the same quarter in the previous year, the business earned $3.51 EPS. Boeing’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts forecast that Boeing Co will post 10.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is presently 52.25%.
Boeing declared that its Board of Directors has approved a stock repurchase program on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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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