Searle & CO. Takes Position in Boeing Co. (BA)
Searle & CO. bought a new position in Boeing Co. (NYSE:BA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,630 shares of the aircraft producer’s stock, valued at approximately $1,406,000. Boeing comprises about 1.2% of Searle & CO.’s portfolio, making the stock its 29th largest position.
A number of other institutional investors have also modified their holdings of BA. Nelson Roberts Investment Advisors LLC boosted its position in Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock worth $122,000 after buying an additional 180 shares during the last quarter. Van Hulzen Asset Management LLC boosted its position in Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock worth $130,000 after buying an additional 100 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new position in Boeing during the second quarter worth about $136,000. SevenBridge Financial Group LLC purchased a new position in Boeing during the second quarter worth about $142,000. Finally, Kelly Lawrence W & Associates Inc. CA boosted its position in Boeing by 25.5% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,155 shares of the aircraft producer’s stock worth $150,000 after buying an additional 235 shares during the last quarter. Institutional investors own 72.90% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 0.18% during trading on Monday, hitting $149.77. 4,728,764 shares of the company were exchanged. The firm has a market capitalization of $92.43 billion, a PE ratio of 22.89 and a beta of 1.02. 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 $141.96 and its 200 day moving average price is $133.86.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.89. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The company earned $23.90 billion during the quarter, compared to analyst estimates of $23.73 billion. During the same period last year, the firm posted $2.52 EPS. Boeing’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that Boeing Co. will post $7.09 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, November 8th. Boeing’s dividend payout ratio is presently 66.36%.
A number of equities analysts have issued reports on the stock. Vetr cut shares of Boeing from a “hold” rating to a “sell” rating and set a $142.21 price objective on the stock. in a research report on Thursday. Goldman Sachs Group Inc. set a $109.00 target price on shares of Boeing and gave the company a “sell” rating in a research note on Thursday, October 27th. TheStreet raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Societe Generale set a $148.00 target price on shares of Boeing and gave the company a “neutral” rating in a research note on Friday, October 28th. Finally, Argus lifted their target price on shares of Boeing from $143.31 to $160.00 and gave the company a “buy” rating in a research note on Friday, October 28th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $147.99.
In other Boeing news, EVP J Michael Luttig sold 200,754 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 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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