Destination Wealth Management Has $1.15 Million Stake in Boeing Company (The) (BA)
Destination Wealth Management trimmed its stake in Boeing Company (The) (NYSE:BA) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,818 shares of the aircraft producer’s stock after selling 200 shares during the period. Destination Wealth Management’s holdings in Boeing were worth $1,150,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. LMR Partners LLP purchased a new stake in Boeing in the 2nd quarter worth $4,904,000. Allegis Investment Advisors LLC purchased a new stake in Boeing in the 2nd quarter worth $351,000. Blair William & Co. IL increased its stake in Boeing by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock worth $31,170,000 after buying an additional 6,141 shares in the last quarter. Alps Advisors Inc. increased its stake in Boeing by 46.4% in the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock worth $956,000 after buying an additional 1,532 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in Boeing by 23.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock worth $117,989,000 after buying an additional 112,520 shares in the last quarter. Institutional investors and hedge funds own 70.77% of the company’s stock.
Boeing Company (NYSE:BA) opened at $271.38 on Friday. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39. Boeing Company has a 1-year low of $150.02 and a 1-year high of $278.73. The company has a market cap of $164,856.13, a PE ratio of 28.39, a P/E/G ratio of 2.11 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, November 9th. Boeing’s payout ratio is 52.21%.
A number of brokerages have issued reports on BA. Vetr lowered Boeing from a “hold” rating to a “sell” rating and set a $263.71 price target for the company. in a research note on Friday. Jefferies Group raised their price objective on Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Royal Bank Of Canada set a $290.00 price objective on Boeing and gave the company a “hold” rating in a research report on Wednesday, November 15th. Credit Suisse Group restated an “outperform” rating and set a $310.00 price objective (up previously from $300.00) on shares of Boeing in a research report on Tuesday, October 24th. Finally, Morgan Stanley raised their price objective on Boeing from $260.00 to $285.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Buy” and an average price target of $257.81.
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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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