Founders Capital Management lessened its stake in shares of Boeing Co (NYSE:BA) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,080 shares of the aircraft producer’s stock after selling 150 shares during the period. Boeing accounts for approximately 4.9% of Founders Capital Management’s investment portfolio, making the stock its biggest position. Founders Capital Management’s holdings in Boeing were worth $5,922,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lipe & Dalton purchased a new stake in Boeing during the 3rd quarter valued at about $100,000. Burt Wealth Advisors purchased a new stake in Boeing during the 3rd quarter valued at about $100,000. Stonehearth Capital Management LLC purchased a new stake in Boeing during the 4th quarter valued at about $105,000. Solaris Asset Management LLC purchased a new stake in Boeing during the 4th quarter valued at about $111,000. Finally, Clear Perspective Advisors LLC grew its stake in Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 76.58% of the company’s stock.
Boeing Co (NYSE:BA) opened at $354.52 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74. The firm has a market cap of $208,631.47, a P/E ratio of 29.35, a P/E/G ratio of 1.84 and a beta of 1.37. Boeing Co has a 1 year low of $173.75 and a 1 year high of $371.60.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 9th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is presently 50.78%.
Boeing declared that its board has authorized a share buyback program on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several analysts recently issued reports on BA shares. Buckingham Research set a $289.00 price objective on shares of Boeing and gave the company a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective for the company in a research note on Tuesday, January 2nd. Canaccord Genuity reaffirmed a “hold” rating and set a $345.00 price objective (up previously from $290.00) on shares of Boeing in a research note on Thursday, February 1st. Robert W. Baird set a $433.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $358.47.
In related news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.28% of the company’s stock.
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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