Jacobs & Co. CA Purchases 1,363 Shares of Boeing Co. (BA)
Jacobs & Co. CA boosted its stake in Boeing Co. (NYSE:BA) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,655 shares of the aircraft producer’s stock after buying an additional 1,363 shares during the period. Boeing accounts for about 1.7% of Jacobs & Co. CA’s portfolio, making the stock its 15th largest position. Jacobs & Co. CA’s holdings in Boeing were worth $7,727,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Nelson Roberts Investment Advisors LLC raised its stake in shares of Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock valued at $122,000 after buying an additional 180 shares in the last quarter. Van Hulzen Asset Management LLC raised its stake in shares of Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock valued at $130,000 after buying an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. bought a new stake in shares of Boeing during the second quarter valued at approximately $136,000. SevenBridge Financial Group LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $142,000. Finally, Kelly Lawrence W & Associates Inc. CA raised its stake in shares of 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 valued at $150,000 after buying an additional 235 shares in the last quarter. 72.90% of the stock is currently owned by institutional investors.
Shares of Boeing Co. (NYSE:BA) traded down 0.25% during trading on Wednesday, hitting $151.26. The stock had a trading volume of 1,780,968 shares. The company has a market capitalization of $93.35 billion, a price-to-earnings ratio of 23.11 and a beta of 1.02. Boeing Co. has a 52 week low of $102.10 and a 52 week high of $153.08. The company’s 50 day moving average price is $141.96 and its 200 day moving average price is $133.86.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.89. The company earned $23.90 billion during the quarter, compared to the consensus estimate of $23.73 billion. Boeing had a return on equity of 126.01% and a net margin of 4.52%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the business posted $2.52 EPS. Analysts predict that Boeing Co. will post $7.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 11th will be paid a $1.09 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $4.36 annualized dividend and a dividend yield of 2.88%. Boeing’s dividend payout ratio is presently 66.36%.
A number of equities research analysts have recently weighed in on BA shares. TheStreet upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Societe Generale set a $148.00 target price on Boeing and gave the stock a “neutral” rating in a research report on Friday, October 28th. Canaccord Genuity restated a “hold” rating and set a $144.00 target price on shares of Boeing in a research report on Thursday, August 25th. Goldman Sachs Group Inc. set a $109.00 target price on Boeing and gave the stock a “sell” rating in a research report on Thursday, October 27th. Finally, Argus restated a “buy” rating and set a $155.00 target price on shares of Boeing in a research report on Wednesday, August 3rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. Boeing presently 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 Boeing stock in a transaction dated Monday, October 31st. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by insiders.
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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