California Capital Advisors Inc. grew its position in shares of Boeing Co (NYSE:BA) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 20,423 shares of the aircraft producer’s stock after acquiring an additional 1,607 shares during the quarter. Boeing makes up approximately 6.2% of California Capital Advisors Inc.’s portfolio, making the stock its 3rd biggest holding. California Capital Advisors Inc.’s holdings in Boeing were worth $6,023,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in Boeing by 5.4% during the fourth quarter. Strs Ohio now owns 545,519 shares of the aircraft producer’s stock worth $160,879,000 after purchasing an additional 27,956 shares in the last quarter. Bredin Investment LLC acquired a new position in Boeing during the fourth quarter worth $3,084,000. Forte Capital LLC ADV lifted its stake in Boeing by 17.9% during the fourth quarter. Forte Capital LLC ADV now owns 2,640 shares of the aircraft producer’s stock worth $778,000 after purchasing an additional 400 shares in the last quarter. Cornerstone Investment Partners LLC lifted its stake in Boeing by 100.0% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,330 shares of the aircraft producer’s stock worth $1,277,000 after purchasing an additional 2,165 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in Boeing by 1.8% during the fourth quarter. First Manhattan Co. now owns 13,445 shares of the aircraft producer’s stock worth $3,965,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 76.55% of the company’s stock.
A number of research analysts have commented on the company. Vetr cut Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price target on the stock. in a research note on Thursday. Morgan Stanley restated an “equal weight” rating and set a $373.00 price target (up from $340.00) on shares of Boeing in a research note on Friday, February 23rd. Edward Jones upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Buckingham Research set a $289.00 price objective on Boeing and gave the company a “hold” rating in a research note on Thursday, February 8th. Finally, Berenberg Bank set a $415.00 price objective on Boeing and gave the company a “buy” rating in a research note on Monday, February 5th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Boeing presently has an average rating of “Buy” and a consensus price target of $358.47.
Shares of Boeing Co (NYSE:BA) opened at $354.52 on Monday. Boeing Co has a 52 week low of $173.75 and a 52 week high of $371.60. 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 firm has a market capitalization of $208,631.58, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same period last year, the firm earned $2.47 earnings per share. Boeing’s quarterly revenue was up 8.9% on a year-over-year basis. equities research analysts predict that Boeing Co will post 14.05 EPS for the current year.
Boeing declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.
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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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