Boeing Company (The) (NYSE:BA) Position Decreased by Tower Bridge Advisors
Tower Bridge Advisors reduced its stake in shares of Boeing Company (The) (NYSE:BA) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,596 shares of the aircraft producer’s stock after selling 130 shares during the period. Tower Bridge Advisors’ holdings in Boeing Company (The) were worth $813,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. increased its position in shares of Boeing Company (The) by 16.0% in the fourth quarter. Brown Advisory Inc. now owns 37,625 shares of the aircraft producer’s stock worth $5,856,000 after buying an additional 5,192 shares in the last quarter. Cigna Investments Inc. New bought a new position in shares of Boeing Company (The) during the fourth quarter worth about $3,339,000. CHURCHILL MANAGEMENT Corp increased its position in shares of Boeing Company (The) by 100.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 38,289 shares of the aircraft producer’s stock worth $6,772,000 after buying an additional 19,213 shares in the last quarter. GLG LLC bought a new position in shares of Boeing Company (The) during the fourth quarter worth about $4,988,000. Finally, American National Bank boosted its stake in shares of Boeing Company (The) by 30.6% in the first quarter. American National Bank now owns 28,410 shares of the aircraft producer’s stock worth $5,025,000 after buying an additional 6,661 shares during the last quarter. Institutional investors own 72.99% of the company’s stock.
Shares of Boeing Company (NYSE BA) traded down 0.23% during midday trading on Friday, hitting $237.71. 5,579,759 shares of the company were exchanged. The firm has a market cap of $140.51 billion, a P/E ratio of 20.83 and a beta of 1.16. Boeing Company has a one year low of $126.31 and a one year high of $246.49. The company’s 50 day moving average price is $207.88 and its 200 day moving average price is $185.18.
Boeing Company (The) (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.23. The business had revenue of $22.74 billion for the quarter, compared to analyst estimates of $22.97 billion. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. Boeing Company (The)’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. Equities analysts expect that Boeing Company will post $9.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $1.42 per share. The ex-dividend date is Wednesday, August 9th. This represents a $5.68 dividend on an annualized basis and a yield of 2.39%. Boeing Company (The)’s dividend payout ratio is currently 49.74%.
BA has been the topic of several analyst reports. Gabelli reaffirmed a “buy” rating on shares of Boeing Company (The) in a research note on Friday, April 7th. Cowen and Company increased their price objective on shares of Boeing Company (The) from $185.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, April 10th. Vetr upgraded shares of Boeing Company (The) from a “hold” rating to a “buy” rating and set a $183.96 price objective on the stock in a report on Wednesday, April 12th. Canaccord Genuity increased their price objective on shares of Boeing Company (The) from $162.00 to $170.00 and gave the stock a “hold” rating in a report on Tuesday, April 18th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $200.00 price objective on shares of Boeing Company (The) in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $227.80.
In related news, SVP Robert E. Verbeck sold 2,522 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $244.45, for a total transaction of $616,502.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Heidi B. Capozzi sold 4,217 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $241.51, for a total value of $1,018,447.67. The disclosure for this sale can be found here. Insiders have sold a total of 83,334 shares of company stock worth $20,321,493 in the last 90 days. 0.28% of the stock is currently owned by corporate insiders.
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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