RKL Wealth Management LLC decreased its position in shares of Boeing Co (NYSE:BA) by 34.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 804 shares of the aircraft producer’s stock after selling 417 shares during the quarter. RKL Wealth Management LLC’s holdings in Boeing were worth $292,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC raised its holdings in shares of Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after buying an additional 41 shares during the period. Guidant Wealth Advisors acquired a new position in shares of Boeing in the second quarter valued at approximately $28,000. Next Capital Management LLC acquired a new position in shares of Boeing in the fourth quarter valued at approximately $32,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in shares of Boeing in the fourth quarter valued at approximately $40,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on BA shares. Berenberg Bank reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Boeing in a research note on Tuesday, August 6th. Canaccord Genuity set a $380.00 target price on Boeing and gave the company a “hold” rating in a report on Friday, July 19th. Barclays cut Boeing from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $417.00 to $367.00 in a report on Tuesday, May 7th. Credit Suisse Group reiterated a “buy” rating and issued a $425.00 target price on shares of Boeing in a report on Thursday, July 25th. Finally, Wolfe Research cut Boeing from an “outperform” rating to a “peer perform” rating and reduced their target price for the company from $404.00 to $393.00 in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. Boeing presently has an average rating of “Hold” and an average price target of $403.10.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $1.07. The firm had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The company’s revenue for the quarter was down 35.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.33 EPS. On average, analysts expect that Boeing Co will post 4.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be issued a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, August 8th. Boeing’s payout ratio is 51.34%.
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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