Sumitomo Mitsui Asset Management Company LTD cut its stake in Boeing Company (The) (NYSE:BA) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,753 shares of the aircraft producer’s stock after selling 2,614 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Boeing Company (The) were worth $12,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kwmg LLC acquired a new stake in shares of Boeing Company (The) in the 2nd quarter worth $1,136,000. Mechanics Bank Trust Department increased its stake in shares of Boeing Company (The) by 7.3% in the 2nd quarter. Mechanics Bank Trust Department now owns 5,416 shares of the aircraft producer’s stock worth $1,071,000 after acquiring an additional 367 shares during the last quarter. Howland Capital Management LLC acquired a new stake in shares of Boeing Company (The) in the 2nd quarter worth $212,000. Parkwood LLC acquired a new stake in shares of Boeing Company (The) in the 2nd quarter worth $323,000. Finally, Aviance Capital Partners LLC increased its stake in shares of Boeing Company (The) by 7.7% in the 2nd quarter. Aviance Capital Partners LLC now owns 38,041 shares of the aircraft producer’s stock worth $7,523,000 after acquiring an additional 2,710 shares during the last quarter. 72.30% of the stock is owned by institutional investors and hedge funds.

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BA has been the subject of a number of recent research reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $215.00 target price (up from $200.00) on shares of Boeing Company (The) in a research note on Sunday, July 30th. Argus reaffirmed a “buy” rating and issued a $270.00 target price on shares of Boeing Company (The) in a research note on Tuesday, August 1st. Buckingham Research raised Boeing Company (The) from an “underperform” rating to a “neutral” rating in a research note on Friday, July 28th. Vetr upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $253.33 price target for the company in a report on Monday, August 7th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Boeing Company (The) in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $232.08.

In related news, CFO Gregory D. Smith sold 19,757 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $245.42, for a total value of $4,848,762.94. Following the completion of the transaction, the chief financial officer now owns 152,195 shares of the company’s stock, valued at $37,351,696.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Dennis A. Muilenburg sold 56,838 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $243.46, for a total value of $13,837,779.48. Following the completion of the transaction, the chairman now directly owns 127,778 shares of the company’s stock, valued at approximately $31,108,831.88. The disclosure for this sale can be found here. Insiders sold 83,468 shares of company stock valued at $20,353,814 in the last three months. 0.28% of the stock is currently owned by company insiders.

Shares of Boeing Company (NYSE:BA) opened at 238.78 on Friday. The stock’s 50 day moving average price is $235.67 and its 200 day moving average price is $198.82. Boeing Company has a 12 month low of $126.31 and a 12 month high of $246.49. The firm has a market cap of $141.14 billion, a price-to-earnings ratio of 20.92 and a beta of 1.18.

Boeing Company (The) (NYSE:BA) last issued its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.23. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The company had revenue of $22.74 billion during the quarter, compared to the consensus estimate of $22.97 billion. During the same quarter in the prior year, the business earned ($0.44) earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. Equities research analysts predict that Boeing Company will post $9.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, August 9th. Boeing Company (The)’s payout ratio is 49.74%.

Boeing Company (The) Profile

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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Institutional Ownership by Quarter for Boeing Company (The) (NYSE:BA)

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