Boeing Co (BA) Shares Sold by Willis Investment Counsel
Willis Investment Counsel cut its position in shares of Boeing Co (NYSE:BA) by 37.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 47,500 shares of the aircraft producer’s stock after selling 28,800 shares during the quarter. Willis Investment Counsel’s holdings in Boeing were worth $12,075,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Beach Investment Management LLC. bought a new stake in shares of Boeing during the 2nd quarter worth $429,000. Advisor Partners LLC boosted its position in shares of Boeing by 3.3% in the second quarter. Advisor Partners LLC now owns 11,411 shares of the aircraft producer’s stock worth $2,257,000 after buying an additional 360 shares during the period. Lakeview Capital Partners LLC acquired a new stake in shares of Boeing in the second quarter worth $208,000. Baxter Bros Inc. boosted its position in shares of Boeing by 6.2% in the second quarter. Baxter Bros Inc. now owns 16,044 shares of the aircraft producer’s stock worth $3,173,000 after buying an additional 930 shares during the period. Finally, Financial Advisory Service Inc. boosted its position in shares of Boeing by 5.7% in the second quarter. Financial Advisory Service Inc. now owns 2,365 shares of the aircraft producer’s stock worth $468,000 after buying an additional 127 shares during the period. 70.78% of the stock is owned by institutional investors and hedge funds.
Boeing Co (BA) opened at $332.83 on Friday. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. The company has a market capitalization of $196,338.41, a PE ratio of 24.71, a PEG ratio of 1.81 and a beta of 1.44. Boeing Co has a 12 month low of $164.47 and a 12 month high of $361.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.06%. Boeing’s payout ratio is presently 50.78%.
Boeing declared that its board has approved a share repurchase program on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Several analysts have recently commented on BA shares. Sanford C. Bernstein raised their target price on Boeing from $402.00 to $422.00 in a research report on Friday, February 2nd. Argus reaffirmed a “buy” rating and issued a $290.00 target price (up previously from $270.00) on shares of Boeing in a research report on Friday, October 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $300.00 target price on shares of Boeing in a research report on Thursday, October 26th. Cowen reaffirmed a “buy” rating and issued a $315.00 target price on shares of Boeing in a research report on Thursday, October 26th. Finally, Jefferies Group raised their target price on Boeing from $300.00 to $312.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $353.24.
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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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