Parallel Advisors LLC Boosts Holdings in Boeing Co (BA)
Parallel Advisors LLC raised its stake in Boeing Co (NYSE:BA) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,269 shares of the aircraft producer’s stock after buying an additional 388 shares during the period. Parallel Advisors LLC’s holdings in Boeing were worth $1,383,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Riverpoint Wealth Management Holdings LLC raised its stake in Boeing by 0.3% during the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after purchasing an additional 4 shares during the period. Arete Wealth Advisors LLC raised its stake in Boeing by 0.4% during the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after purchasing an additional 9 shares during the period. High Falls Advisors Inc raised its stake in Boeing by 0.3% during the 2nd quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock valued at $696,000 after purchasing an additional 11 shares during the period. Arcus Capital Partners LLC raised its stake in Boeing by 0.7% during the 2nd quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock valued at $324,000 after purchasing an additional 12 shares during the period. Finally, Strategic Advisors LLC raised its stake in Boeing by 1.0% during the 2nd quarter. Strategic Advisors LLC now owns 2,021 shares of the aircraft producer’s stock valued at $400,000 after purchasing an additional 20 shares during the period. 70.88% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the stock. Vetr raised shares of Boeing from a “hold” rating to a “buy” rating and set a $369.18 target price on the stock in a research note on Tuesday. Edward Jones raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Buckingham Research set a $289.00 target price on shares of Boeing and gave the company a “hold” rating in a research note on Thursday, February 8th. Berenberg Bank set a $415.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Jefferies Group boosted their target price on shares of Boeing from $27.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $354.25.
Shares of Boeing Co (NYSE:BA) opened at $352.37 on Thursday. The stock has a market cap of $207,943.05, a price-to-earnings ratio of 29.25, a P/E/G ratio of 1.83 and a beta of 1.44. Boeing Co has a fifty-two week low of $173.75 and a fifty-two week high of $361.45. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. The firm had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. Boeing’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 earnings per share. analysts anticipate that Boeing Co will post 14.06 EPS for the current fiscal 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 issued a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a yield of 1.94%. Boeing’s dividend payout ratio is currently 50.78%.
Boeing announced that its Board of Directors has initiated a share buyback program on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: “Parallel Advisors LLC Boosts Holdings in Boeing Co (BA)” was first reported by Daily Political and is the property of of Daily Political. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.dailypolitical.com/2018/02/22/parallel-advisors-llc-boosts-holdings-in-boeing-co-ba.html.
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.
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.