Boeing Co (BA) Position Reduced by Invictus RG
Invictus RG cut its holdings in Boeing Co (NYSE:BA) by 31.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,891 shares of the aircraft producer’s stock after selling 871 shares during the period. Invictus RG’s holdings in Boeing were worth $481,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BA. Lipe & Dalton acquired a new position in Boeing during the third quarter worth $100,000. Burt Wealth Advisors acquired a new position in Boeing during the third quarter worth $100,000. Clear Perspective Advisors LLC lifted its stake in Boeing by 31.0% during the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares in the last quarter. CWH Capital Management Inc. acquired a new position in Boeing during the second quarter worth $134,000. Finally, Catamount Wealth Management acquired a new position in Boeing during the second quarter worth $138,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.
A number of research firms have commented on BA. Buckingham Research set a $289.00 price target on Boeing and gave the stock a “hold” rating in a research note on Thursday, February 8th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $323.91 price objective on the stock in a research report on Monday, February 5th. Royal Bank of Canada set a $363.00 price objective on Boeing and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Finally, Societe Generale set a $373.00 price objective on Boeing and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $353.24.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, beating the consensus estimate of $2.91 by $1.89. The firm had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. Boeing’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. equities analysts expect that Boeing Co will post 14.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.99%. 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 dividend payout ratio is 50.78%.
Boeing declared that its board has approved a stock repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.28% of the company’s stock.
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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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