Conning Inc. decreased its position in shares of Boeing (NYSE:BA) by 7.9% in the fourth quarter, Holdings Channel reports. The fund owned 118,820 shares of the aircraft producer’s stock after selling 10,210 shares during the quarter. Conning Inc.’s holdings in Boeing were worth $35,041,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. MAI Capital Management increased its stake in Boeing by 8.1% during the 4th quarter. MAI Capital Management now owns 67,350 shares of the aircraft producer’s stock valued at $19,862,000 after purchasing an additional 5,073 shares in the last quarter. Capital Management Corp VA acquired a new position in Boeing during the 4th quarter valued at approximately $232,000. Harbor Advisory Corp MA acquired a new position in Boeing during the 4th quarter valued at approximately $526,000. Financial Consulate Inc. acquired a new position in Boeing during the 4th quarter valued at approximately $214,000. Finally, IFG Advisory LLC acquired a new position in Boeing during the 4th quarter valued at approximately $1,691,000. 70.75% of the stock is owned by institutional investors.
Shares of BA stock opened at $321.00 on Friday. The company has a market cap of $188,087.38, a price-to-earnings ratio of 26.46, a P/E/G ratio of 1.65 and a beta of 1.37. 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 has a 52-week low of $173.75 and a 52-week high of $371.60.
Boeing declared that its board has initiated a stock buyback plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have issued reports on the stock. Morgan Stanley set a $373.00 price target on shares of Boeing and gave the company a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. restated a “buy” rating on shares of Boeing in a research note on Wednesday, March 14th. Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price objective on the stock. in a research note on Thursday, March 8th. Edward Jones upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Finally, Buckingham Research set a $289.00 price objective on shares of Boeing and gave the stock a “hold” rating in a research note on Thursday, February 8th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $358.47.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by company insiders.
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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