Adirondack Trust Co. Acquires 290 Shares of Boeing Co (BA)
Adirondack Trust Co. lifted its holdings in shares of Boeing Co (NYSE:BA) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the aircraft producer’s stock after buying an additional 290 shares during the quarter. Boeing comprises 1.1% of Adirondack Trust Co.’s investment portfolio, making the stock its 23rd biggest position. Adirondack Trust Co.’s holdings in Boeing were worth $1,567,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. IFM Investors Pty Ltd lifted its stake in Boeing by 15.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,250 shares of the aircraft producer’s stock worth $10,878,000 after purchasing an additional 3,922 shares in the last quarter. Bristlecone Advisors LLC lifted its stake in Boeing by 66.7% in the 3rd quarter. Bristlecone Advisors LLC now owns 2,862 shares of the aircraft producer’s stock worth $1,064,000 after purchasing an additional 1,145 shares in the last quarter. DeDora Capital Inc. lifted its stake in Boeing by 21.0% in the 3rd quarter. DeDora Capital Inc. now owns 4,032 shares of the aircraft producer’s stock worth $1,499,000 after purchasing an additional 699 shares in the last quarter. Abner Herrman & Brock LLC lifted its stake in Boeing by 5.2% in the 3rd quarter. Abner Herrman & Brock LLC now owns 93,038 shares of the aircraft producer’s stock worth $34,601,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Carlson Capital Management purchased a new stake in Boeing in the 3rd quarter worth approximately $203,000. Institutional investors own 70.13% of the company’s stock.
Shares of NYSE:BA opened at $317.70 on Wednesday. The firm has a market capitalization of $190.78 billion, a PE ratio of 26.39, a P/E/G ratio of 1.62 and a beta of 1.30. Boeing Co has a one year low of $264.53 and a one year high of $394.28. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.32 and a current ratio of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, November 8th. Boeing’s dividend payout ratio is currently 56.81%.
In related news, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $367.52, for a total transaction of $602,732.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $350.07, for a total transaction of $1,750,350.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.
Several research firms have issued reports on BA. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $407.00 target price on the stock in a research note on Friday, October 26th. ValuEngine cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 target price on shares of Boeing in a research note on Thursday, July 26th. Cowen reiterated a “buy” rating and issued a $445.00 target price on shares of Boeing in a research note on Tuesday, November 13th. Finally, UBS Group increased their target price on shares of Boeing from $325.00 to $357.00 and gave the stock a “neutral” rating in a research note on Thursday, July 26th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Boeing currently has a consensus rating of “Buy” and an average price target of $410.21.
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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