Pettinga Financial Advisors LLC acquired a new position in shares of Boeing Co (NYSE:BA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,176 shares of the aircraft producer’s stock, valued at approximately $379,000.
Several other large investors also recently bought and sold shares of BA. FMR LLC lifted its stake in shares of Boeing by 15.1% during the third quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock worth $3,174,259,000 after buying an additional 1,119,587 shares during the period. Capital International Investors lifted its stake in shares of Boeing by 26.1% during the third quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock worth $1,802,956,000 after buying an additional 1,002,825 shares during the period. Winslow Capital Management LLC lifted its stake in shares of Boeing by 50.1% during the third quarter. Winslow Capital Management LLC now owns 1,217,030 shares of the aircraft producer’s stock worth $452,613,000 after buying an additional 406,078 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Boeing by 240.8% during the third quarter. Canada Pension Plan Investment Board now owns 532,010 shares of the aircraft producer’s stock worth $197,855,000 after buying an additional 375,900 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Boeing by 145.6% during the third quarter. SG Americas Securities LLC now owns 104,870 shares of the aircraft producer’s stock worth $39,001,000 after buying an additional 334,955 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.
Several research analysts recently issued reports on BA shares. Morgan Stanley raised their target price on shares of Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, February 28th. Jefferies Financial Group raised their target price on shares of Boeing to $448.00 and gave the stock a “buy” rating in a report on Monday, February 4th. Credit Suisse Group reissued a “buy” rating and set a $456.00 target price on shares of Boeing in a report on Tuesday, December 18th. JPMorgan Chase & Co. raised their target price on shares of Boeing to $450.00 and gave the stock an “overweight” rating in a report on Monday, February 11th. Finally, Nord/LB reissued a “sell” rating and set a $300.00 target price on shares of Boeing in a report on Wednesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. Boeing has an average rating of “Buy” and a consensus target price of $409.94.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.96. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The company had revenue of $28.34 billion during the quarter, compared to analysts’ expectations of $26.76 billion. During the same quarter in the previous year, the company earned $3.04 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities analysts anticipate that Boeing Co will post 20.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 8th were issued a $2.055 dividend. This is a boost from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date was Thursday, February 7th. This represents a $8.22 dividend on an annualized basis and a yield of 2.20%. Boeing’s payout ratio is presently 51.34%.
Boeing announced that its board has approved a share repurchase program on Monday, December 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the aircraft producer to reacquire up to 11.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other Boeing news, SVP Heidi B. Capozzi sold 2,916 shares of Boeing stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $410.84, for a total value of $1,198,009.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Theodore Colbert III sold 2,137 shares of Boeing stock in a transaction on Monday, February 11th. The shares were sold at an average price of $408.85, for a total transaction of $873,712.45. The disclosure for this sale can be found here. Insiders sold 72,247 shares of company stock valued at $28,922,977 in the last ninety days. 0.24% of the stock is owned by corporate 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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