Private Asset Management Inc. trimmed its position in shares of Boeing Co (NYSE:BA) by 25.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,861 shares of the aircraft producer’s stock after selling 650 shares during the quarter. Private Asset Management Inc.’s holdings in Boeing were worth $549,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Riverpoint Wealth Management Holdings LLC increased its stake in shares of Boeing by 0.3% during the second quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock worth $293,000 after acquiring an additional 4 shares during the period. Arete Wealth Advisors LLC increased its stake in shares of Boeing by 0.4% during the second quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock worth $475,000 after acquiring an additional 9 shares during the period. High Falls Advisors Inc increased its stake in shares of Boeing by 0.3% during the second quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock worth $696,000 after acquiring an additional 11 shares during the period. Arcus Capital Partners LLC increased its stake in shares of Boeing by 0.7% during the second quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock worth $324,000 after acquiring an additional 12 shares during the period. Finally, Strategic Advisors LLC increased its stake in shares of Boeing by 1.0% during the second quarter. Strategic Advisors LLC now owns 2,021 shares of the aircraft producer’s stock worth $400,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 70.88% of the company’s stock.
Shares of Boeing Co (BA) opened at $363.48 on Tuesday. Boeing Co has a fifty-two week low of $173.75 and a fifty-two week high of $364.05. The stock has a market cap of $209,890.95, a PE ratio of 29.52, a price-to-earnings-growth ratio of 1.86 and a beta of 1.44. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is 50.78%.
Boeing declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on BA shares. Buckingham Research reiterated a “hold” rating and set a $203.00 price target on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group restated a “buy” rating and set a $339.00 target price on shares of Boeing in a research report on Monday, January 8th. Credit Suisse Group restated an “outperform” rating and set a $375.00 target price (up from $310.00) on shares of Boeing in a research report on Friday, January 12th. They noted that the move was a valuation call. Morgan Stanley restated an “equal weight” rating and set a $373.00 target price (up from $340.00) on shares of Boeing in a research report on Friday. Finally, ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $357.77.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.28% of the stock is owned by corporate insiders.
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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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