Steinberg Global Asset Management Sells 122 Shares of Boeing Company (The) (BA)

Steinberg Global Asset Management lessened its stake in Boeing Company (The) (NYSE:BA) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,177 shares of the aircraft producer’s stock after selling 122 shares during the period. Steinberg Global Asset Management’s holdings in Boeing Company (The) were worth $1,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GWM Advisors LLC increased its holdings in Boeing Company (The) by 0.6% during the 1st quarter. GWM Advisors LLC now owns 1,324 shares of the aircraft producer’s stock valued at $233,000 after purchasing an additional 8 shares during the period. Arcus Capital Partners LLC increased its holdings in Boeing Company (The) by 0.8% during the 1st quarter. Arcus Capital Partners LLC now owns 1,628 shares of the aircraft producer’s stock valued at $288,000 after purchasing an additional 13 shares during the period. Trust Co. of Virginia VA increased its holdings in Boeing Company (The) by 0.5% during the 1st quarter. Trust Co. of Virginia VA now owns 3,239 shares of the aircraft producer’s stock valued at $573,000 after purchasing an additional 15 shares during the period. Stillwater Investment Management LLC increased its holdings in Boeing Company (The) by 0.8% during the 2nd quarter. Stillwater Investment Management LLC now owns 2,010 shares of the aircraft producer’s stock valued at $397,000 after purchasing an additional 15 shares during the period. Finally, Curbstone Financial Management Corp increased its holdings in Boeing Company (The) by 0.8% during the 2nd quarter. Curbstone Financial Management Corp now owns 1,900 shares of the aircraft producer’s stock valued at $376,000 after purchasing an additional 15 shares during the period. 72.31% of the stock is owned by institutional investors.

Boeing Company (NYSE:BA) opened at 240.58 on Wednesday. Boeing Company has a 52-week low of $126.34 and a 52-week high of $246.49. The company has a 50-day moving average price of $236.48 and a 200 day moving average price of $199.62. The company has a market capitalization of $142.20 billion, a PE ratio of 21.08 and a beta of 1.18.

Boeing Company (The) (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.23. The company had revenue of $22.74 billion for the quarter, compared to analyst estimates of $22.97 billion. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. Boeing Company (The)’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the company posted ($0.44) earnings per share. Equities research analysts anticipate that Boeing Company will post $9.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.36%. The ex-dividend date was Wednesday, August 9th. Boeing Company (The)’s payout ratio is 49.74%.

In related news, CFO Gregory D. Smith sold 19,757 shares of Boeing Company (The) stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $245.42, for a total transaction of $4,848,762.94. Following the transaction, the chief financial officer now directly owns 152,195 shares of the company’s stock, valued at $37,351,696.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Dennis A. Muilenburg sold 56,838 shares of Boeing Company (The) stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $243.46, for a total transaction of $13,837,779.48. Following the transaction, the chairman now directly owns 127,778 shares in the company, valued at $31,108,831.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,468 shares of company stock worth $20,353,814. 0.28% of the stock is currently owned by corporate insiders.

BA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a report on Tuesday, July 11th. Barclays PLC boosted their price target on Boeing Company (The) from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, May 22nd. Cowen and Company restated an “outperform” rating and set a $215.00 price target on shares of Boeing Company (The) in a report on Wednesday, May 17th. Vetr upgraded Boeing Company (The) from a “buy” rating to a “strong-buy” rating and set a $199.85 price target on the stock in a report on Thursday, May 18th. Finally, Credit Suisse Group restated a “hold” rating on shares of Boeing Company (The) in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $232.08.

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About Boeing Company (The)

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.

Institutional Ownership by Quarter for Boeing Company (The) (NYSE:BA)

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