Evanson Asset Management LLC Has $809,000 Position in Boeing Co (BA)
Evanson Asset Management LLC cut its position in shares of Boeing Co (NYSE:BA) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,509 shares of the aircraft producer’s stock after selling 285 shares during the quarter. Evanson Asset Management LLC’s holdings in Boeing were worth $809,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in BA. Contravisory Investment Management Inc. boosted its stake in Boeing by 159.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock valued at $45,000 after acquiring an additional 86 shares during the last quarter. CX Institutional purchased a new position in Boeing in the fourth quarter valued at about $74,000. Stuart Chaussee & Associates Inc. boosted its stake in Boeing by 412.1% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 297 shares of the aircraft producer’s stock valued at $96,000 after acquiring an additional 239 shares during the last quarter. CSat Investment Advisory L.P. purchased a new position in Boeing in the second quarter valued at about $101,000. Finally, Interactive Financial Advisors purchased a new position in Boeing in the third quarter valued at about $112,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
BA has been the topic of a number of research analyst reports. Goldman Sachs Group set a $387.00 target price on shares of Boeing and gave the company a “neutral” rating in a research note on Wednesday, October 24th. Morgan Stanley raised shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $400.00 to $450.00 in a research report on Wednesday, January 9th. Credit Suisse Group boosted their price target on shares of Boeing from $455.00 to $456.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. Cowen reissued a “buy” rating and issued a $445.00 price target on shares of Boeing in a research report on Tuesday, November 13th. Finally, Sanford C. Bernstein boosted their price target on shares of Boeing from $426.00 to $440.00 and gave the company a “positive” rating in a research report on Friday, October 26th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $412.08.
Boeing stock opened at $404.91 on Monday. The company has a debt-to-equity ratio of 25.99, a quick ratio of 0.31 and a current ratio of 1.08. The company has a market cap of $229.94 billion, a P/E ratio of 25.29, a PEG ratio of 1.47 and a beta of 1.31. Boeing Co has a 1-year low of $292.47 and a 1-year high of $413.88.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.96. The business had revenue of $28.34 billion for the quarter, compared to analyst estimates of $26.76 billion. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. Boeing’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 EPS. Research analysts expect that Boeing Co will post 20.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be issued a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, February 7th. This is a positive change from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio is 51.34%.
Boeing declared that its Board of Directors has approved a share buyback program on Monday, December 17th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to buy up to 11.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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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