First Financial Bank Trust Division lowered its stake in shares of Boeing Co (NYSE:BA) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 10,523 shares of the aircraft producer’s stock after selling 388 shares during the quarter. First Financial Bank Trust Division’s holdings in Boeing were worth $3,103,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Boeing by 1.0% during the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after purchasing an additional 407,511 shares in the last quarter. Jennison Associates LLC boosted its position in Boeing by 20.3% during the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after purchasing an additional 1,160,859 shares in the last quarter. Janus Henderson Group PLC boosted its position in Boeing by 7,215.0% during the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Boeing by 13.3% during the third quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after purchasing an additional 402,240 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Boeing by 2.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock valued at $801,586,000 after purchasing an additional 86,722 shares in the last quarter. 70.88% of the stock is currently owned by institutional investors.
Boeing Co (NYSE BA) opened at $356.66 on Monday. Boeing Co has a 12 month low of $173.75 and a 12 month high of $361.45. The stock has a market capitalization of $209,890.95, a PE ratio of 29.52, a PEG ratio of 1.86 and a beta of 1.44. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.92%. This is a boost from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is presently 50.78%.
Boeing declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
BA has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price objective on Boeing from $303.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $249.63 price target for the company. in a research note on Monday, October 30th. Nord/LB set a $250.00 price target on Boeing and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Royal Bank of Canada set a $290.00 price target on Boeing and gave the company a “hold” rating in a research note on Wednesday, November 15th. Finally, Jefferies Group increased their price target on Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $357.77.
In related news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.28% of the stock is currently owned by company insiders.
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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