Parkside Financial Bank & Trust cut its stake in Boeing Co (NYSE:BA) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,775 shares of the aircraft producer’s stock after selling 450 shares during the period. Parkside Financial Bank & Trust’s holdings in Boeing were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. NuWave Investment Management LLC lifted its stake in Boeing by 554.5% in the 2nd 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. Guidant Wealth Advisors acquired a new stake in Boeing in the 2nd quarter valued at about $28,000. 1 North Wealth Services LLC acquired a new stake in Boeing in the 3rd quarter valued at about $32,000. Atwater Malick LLC acquired a new stake in Boeing in the 3rd quarter valued at about $39,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Boeing in the 2nd quarter valued at about $40,000. 67.84% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on BA shares. Deutsche Bank reiterated a “buy” rating on shares of Boeing in a research note on Friday. Cowen set a $460.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Friday, October 11th. Goldman Sachs Group reiterated a “neutral” rating and issued a $370.00 target price on shares of Boeing in a research note on Wednesday, October 23rd. Canaccord Genuity cut their target price on shares of Boeing from $380.00 to $370.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $410.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Hold” and a consensus price target of $379.30.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.59). Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The company had revenue of $19.98 billion during the quarter, compared to the consensus estimate of $20 billion. During the same period in the prior year, the company earned $3.58 earnings per share. The firm’s revenue was down 20.5% compared to the same quarter last year. As a group, research analysts expect that Boeing Co will post 1.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $8.22 annualized dividend and a dividend yield of 2.34%. Boeing’s dividend payout ratio is presently 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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