Clear Harbor Asset Management LLC Buys New Position in Boeing Company (The) (BA)
Clear Harbor Asset Management LLC bought a new position in Boeing Company (The) (NYSE:BA) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,746 shares of the aircraft producer’s stock, valued at approximately $309,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BA. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Boeing Company (The) by 57.4% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 11,395 shares of the aircraft producer’s stock valued at $2,015,000 after buying an additional 4,154 shares during the last quarter. Sawgrass Asset Management LLC acquired a new stake in shares of Boeing Company (The) during the first quarter valued at approximately $343,000. Adviser Investments LLC acquired a new stake in shares of Boeing Company (The) during the first quarter valued at approximately $3,854,000. Duncker Streett & Co. Inc. increased its stake in shares of Boeing Company (The) by 1.6% in the first quarter. Duncker Streett & Co. Inc. now owns 6,313 shares of the aircraft producer’s stock valued at $1,116,000 after buying an additional 102 shares in the last quarter. Finally, Mycio Wealth Partners LLC increased its stake in shares of Boeing Company (The) by 7.5% in the first quarter. Mycio Wealth Partners LLC now owns 4,238 shares of the aircraft producer’s stock valued at $750,000 after buying an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 73.13% of the company’s stock.
Shares of Boeing Company (NYSE BA) traded up 1.40% during midday trading on Friday, hitting $202.23. 4,310,050 shares of the stock were exchanged. The company has a market cap of $122.06 billion, a PE ratio of 24.92 and a beta of 1.14. Boeing Company has a 12 month low of $122.35 and a 12 month high of $202.35. The stock has a 50 day moving average price of $187.00 and a 200-day moving average price of $173.91. Boeing Company (The) also was the target of some unusual options trading activity on Wednesday. Traders acquired 3,186 put options on the company. This is an increase of approximately 223% compared to the average daily volume of 987 put options.
Boeing Company (The) (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 26th. The aircraft producer reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.10. The business had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.27 billion. Boeing Company (The) had a net margin of 5.52% and a return on equity of 495.68%. The company’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.74 earnings per share. On average, analysts predict that Boeing Company will post $9.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 12th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Wednesday, May 10th. Boeing Company (The)’s dividend payout ratio is presently 69.61%.
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BA has been the topic of a number of recent research reports. Vetr raised Boeing Company (The) from a “hold” rating to a “buy” rating and set a $183.96 target price on the stock in a report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $134.00 target price on shares of Boeing Company (The) in a report on Thursday, April 27th. Gabelli reaffirmed a “buy” rating on shares of Boeing Company (The) in a report on Friday, April 7th. Cowen and Company increased their price target on Boeing Company (The) from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, April 10th. Finally, Barclays PLC increased their price target on Boeing Company (The) from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, May 22nd. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $169.74.
In related news, SVP Bertrand Marc Allen sold 15,470 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $183.62, for a total value of $2,840,601.40. Following the completion of the sale, the senior vice president now directly owns 43,801 shares in the company, valued at $8,042,739.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Timothy John Keating sold 32,500 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $184.51, for a total transaction of $5,996,575.00. Following the completion of the sale, the senior vice president now owns 107,437 shares of the company’s stock, valued at $19,823,200.87. The disclosure for this sale can be found here. In the last three months, insiders sold 63,403 shares of company stock valued at $11,666,138. Company insiders own 0.28% of the company’s stock.
About Boeing Company (The)
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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