Sit Investment Associates Inc. grew its stake in shares of Boeing Co (NYSE:BA) by 96,186.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,809 shares of the aircraft producer’s stock after buying an additional 56,750 shares during the quarter. Sit Investment Associates Inc.’s holdings in Boeing were worth $16,754,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Boeing by 1.0% during the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after buying an additional 407,511 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Boeing by 20.3% in the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after purchasing an additional 1,160,859 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Boeing by 7,215.0% in the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after purchasing an additional 4,852,679 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Boeing by 13.3% in the third quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock worth $870,618,000 after purchasing an additional 402,240 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Boeing by 2.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock worth $801,586,000 after purchasing an additional 86,722 shares during the last quarter. 70.88% of the stock is currently owned by hedge funds and other institutional investors.
Boeing Co (NYSE BA) opened at $364.64 on Wednesday. Boeing Co has a fifty-two week low of $173.75 and a fifty-two week high of $369.89. The firm has a market cap of $213,904.45, a PE ratio of 27.07, a PEG ratio of 1.88 and a beta of 1.44. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74.
Boeing announced that its board has authorized a share buyback program on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a dividend of $1.71 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.84 annualized dividend and a dividend yield of 1.88%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is currently 50.78%.
In other 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 transaction of $12,174,136.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.28% of the stock is currently owned by corporate insiders.
Several analysts recently weighed in on the stock. Canaccord Genuity boosted their price objective on shares of Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Wells Fargo & Co reissued a “market perform” rating and issued a $365.00 price objective (up previously from $330.00) on shares of Boeing in a research note on Thursday, February 1st. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $373.00 price objective (up previously from $340.00) on shares of Boeing in a research note on Friday, February 23rd. Finally, Royal Bank of Canada set a $363.00 price objective on shares of Boeing and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $357.77.
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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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