Exxonmobil Investment Management Inc. TX Has $19,515,000 Position in Boeing Co. (BA)
Exxonmobil Investment Management Inc. TX cut its stake in shares of Boeing Co. (NYSE:BA) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,135 shares of the aircraft producer’s stock after selling 6,862 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Boeing were worth $19,515,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its position in shares of Boeing by 8.8% in the second quarter. Capital World Investors now owns 47,676,799 shares of the aircraft producer’s stock valued at $6,191,786,000 after buying an additional 3,866,637 shares during the period. Capital Research Global Investors increased its position in shares of Boeing by 15.8% in the second quarter. Capital Research Global Investors now owns 19,728,620 shares of the aircraft producer’s stock valued at $2,562,156,000 after buying an additional 2,690,120 shares during the period. Bank of Montreal Can bought a new position in shares of Boeing during the second quarter valued at $316,346,000. Ameriprise Financial Inc. increased its position in shares of Boeing by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 3,214,195 shares of the aircraft producer’s stock valued at $417,213,000 after buying an additional 663,424 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Boeing by 70.7% in the second quarter. Prudential Financial Inc. now owns 1,353,402 shares of the aircraft producer’s stock valued at $175,766,000 after buying an additional 560,505 shares during the period. Institutional investors own 75.43% of the company’s stock.
Boeing Co. (NYSE:BA) traded up 0.20% on Friday, hitting $150.04. The company had a trading volume of 962,387 shares. Boeing Co. has a 12-month low of $102.10 and a 12-month high of $150.81. The firm’s 50 day moving average price is $141.51 and its 200 day moving average price is $133.75. The stock has a market cap of $92.60 billion, a P/E ratio of 22.93 and a beta of 1.02.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.89. The firm had revenue of $23.90 billion for the quarter, compared to the consensus estimate of $23.73 billion. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 earnings per share. Equities analysts predict that Boeing Co. will post $7.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 11th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 2.91%. The ex-dividend date is Tuesday, November 8th. Boeing’s payout ratio is 66.36%.
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Several analysts have recently commented on BA shares. Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $129.80 price target for the company in a report on Monday, August 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $145.00 price target on shares of Boeing in a report on Sunday, July 31st. Argus reissued a “buy” rating and issued a $155.00 price target on shares of Boeing in a report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating and issued a $165.00 price target on shares of Boeing in a report on Friday, August 19th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $144.00 price target on shares of Boeing in a report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $147.99.
In other Boeing news, EVP J Michael Luttig sold 200,754 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $142.46, for a total transaction of $28,599,414.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.58% of the company’s stock.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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