Arrow Financial Corp maintained its stake in shares of Boeing Company (The) (NYSE:BA) during the first quarter, Holdings Channel reports. The fund owned 1,820 shares of the aircraft producer’s stock at the end of the first quarter. Arrow Financial Corp’s holdings in Boeing Company (The) were worth $322,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of BA. Brown Advisory Inc. raised its position in Boeing Company (The) by 16.0% in the fourth quarter. Brown Advisory Inc. now owns 37,625 shares of the aircraft producer’s stock valued at $5,856,000 after buying an additional 5,192 shares in the last quarter. Cigna Investments Inc. New acquired a new position in Boeing Company (The) during the fourth quarter valued at about $3,339,000. CHURCHILL MANAGEMENT Corp raised its position in Boeing Company (The) by 100.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 38,289 shares of the aircraft producer’s stock valued at $6,772,000 after buying an additional 19,213 shares in the last quarter. GLG LLC acquired a new position in Boeing Company (The) during the fourth quarter valued at about $4,988,000. Finally, Honkamp Krueger Financial Services Inc. ADV acquired a new position in Boeing Company (The) during the fourth quarter valued at about $1,704,000. 73.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Boeing Company (NYSE BA) opened at 199.08 on Tuesday. Boeing Company has a 12 month low of $122.35 and a 12 month high of $199.47. The stock has a market cap of $120.16 billion, a P/E ratio of 24.53 and a beta of 1.14. The company has a 50 day moving average price of $186.54 and a 200-day moving average price of $173.57.
Boeing Company (The) (NYSE:BA) last released its earnings results on Wednesday, April 26th. The aircraft producer reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.10. Boeing Company (The) had a net margin of 5.52% and a return on equity of 495.68%. The company had revenue of $20.98 billion for the quarter, compared to analysts’ expectations of $21.27 billion. During the same quarter in the previous year, the company earned $1.74 EPS. Boeing Company (The)’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, equities research analysts predict that Boeing Company will post $9.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 12th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, May 10th. Boeing Company (The)’s dividend payout ratio (DPR) is 69.61%.
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Several equities analysts have recently issued reports on the company. Vetr lowered Boeing Company (The) from a “buy” rating to a “hold” rating and set a $202.94 target price for the company. in a report on Thursday, June 15th. Cowen and Company reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Boeing Company (The) in a report on Tuesday, June 13th. ValuEngine raised Boeing Company (The) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $170.00 price objective on shares of Boeing Company (The) in a research note on Thursday, April 27th. Finally, Deutsche Bank AG upped their price objective on Boeing Company (The) from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $167.65.
In related news, SVP Bertrand Marc Allen sold 15,470 shares of Boeing Company (The) stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $183.62, for a total transaction of $2,840,601.40. Following the transaction, the senior vice president now owns 43,801 shares in the company, valued at approximately $8,042,739.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Timothy John Keating sold 32,500 shares of Boeing Company (The) stock in a transaction on Friday, May 5th. The shares were sold at an average price of $184.51, for a total transaction of $5,996,575.00. Following the transaction, the senior vice president now owns 107,437 shares in the company, valued at approximately $19,823,200.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,403 shares of company stock worth $11,666,138. 0.28% of the stock is owned by corporate insiders.
Boeing Company (The) 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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