Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Increases Position in Boeing Co. (BA)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Boeing Co. (NYSE:BA) by 2,998.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,800 shares of the aircraft producer’s stock after buying an additional 146,900 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Boeing were worth $19,998,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the stock. Capital World Investors raised its position in 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 last quarter. Capital Research Global Investors increased its stake 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 acquired a new stake in shares of Boeing during the second quarter valued at about $316,346,000. Ameriprise Financial Inc. increased its stake 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 stake 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. 72.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Boeing Co. (NYSE:BA) traded down 0.23% during trading on Monday, hitting $149.70. The stock had a trading volume of 2,553,004 shares. The firm’s 50 day moving average is $141.51 and its 200 day moving average is $133.75. The company has a market cap of $92.39 billion, a PE ratio of 22.88 and a beta of 1.02. Boeing Co. has a 1-year low of $102.10 and a 1-year high of $150.81.
Boeing (NYSE:BA) last released its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.89. The company earned $23.90 billion during the quarter, compared to analyst estimates of $23.73 billion. Boeing had a return on equity of 126.01% and a net margin of 4.52%. Boeing’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.52 earnings per share. Equities research analysts anticipate that Boeing Co. will post $7.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $4.36 annualized dividend and a yield of 2.91%. Boeing’s payout ratio is 66.36%.
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BA has been the subject of several recent analyst reports. Vetr upgraded 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. restated a “neutral” rating and issued a $145.00 price target on shares of Boeing in a report on Sunday, July 31st. Argus restated a “buy” rating and issued a $155.00 price target on shares of Boeing in a report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating and issued a $165.00 price target on shares of Boeing in a report on Friday, August 19th. Finally, Canaccord Genuity restated 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $147.99.
In related news, EVP J Michael Luttig sold 200,754 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $142.46, for a total value of $28,599,414.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.
Boeing Company Profile
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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