TNB Financial reduced its stake in Boeing (NYSE:BA) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,022 shares of the aircraft producer’s stock after selling 1,023 shares during the quarter. TNB Financial’s holdings in Boeing were worth $2,955,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC raised its holdings in Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after acquiring an additional 1,160,859 shares during the period. Janus Henderson Group PLC grew its position in shares of Boeing by 7,215.0% during the 2nd 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 in the last quarter. Ameriprise Financial Inc. grew its position in shares of Boeing by 13.3% during the 3rd 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 in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Boeing by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,275,519 shares of the aircraft producer’s stock worth $965,756,000 after purchasing an additional 122,278 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Boeing by 15.5% during the 3rd quarter. American Century Companies Inc. now owns 3,106,855 shares of the aircraft producer’s stock worth $789,794,000 after purchasing an additional 417,793 shares in the last quarter. 70.76% of the stock is currently owned by hedge funds and other institutional investors.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same quarter last year, the business posted $2.47 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. equities analysts anticipate that Boeing will post 14.05 EPS for the current fiscal year.
Boeing announced that its Board of Directors has authorized a share repurchase plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts have issued reports on the stock. Royal Bank of Canada restated a “hold” rating and set a $358.00 target price (down previously from $378.00) on shares of Boeing in a research report on Friday. Morgan Stanley restated a “hold” rating and set a $373.00 target price on shares of Boeing in a research report on Thursday. Barclays restated a “buy” rating and set a $388.00 target price on shares of Boeing in a research report on Wednesday. Societe Generale set a $373.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 target price on the stock. in a research report on Thursday, March 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $365.19.
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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