Wealthsource Partners LLC Acquires Shares of 2,653 Boeing Co (BA)
Wealthsource Partners LLC bought a new position in shares of Boeing Co (NYSE:BA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,653 shares of the aircraft producer’s stock, valued at approximately $525,000.
A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Boeing by 1.0% during the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after purchasing an additional 407,511 shares during the period. Janus Henderson Group PLC boosted its position in Boeing by 7,215.0% during the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after purchasing an additional 4,852,679 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Boeing by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after acquiring an additional 123,420 shares during the period. LSV Asset Management boosted its position in shares of Boeing by 0.7% in the second quarter. LSV Asset Management now owns 3,006,858 shares of the aircraft producer’s stock valued at $594,606,000 after acquiring an additional 21,804 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Boeing by 9.3% in the second quarter. Legal & General Group Plc now owns 2,906,822 shares of the aircraft producer’s stock valued at $574,841,000 after acquiring an additional 246,578 shares during the period. Hedge funds and other institutional investors own 70.97% of the company’s stock.
A number of equities analysts have recently commented on BA shares. Deutsche Bank raised their price objective on shares of Boeing to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. Jefferies Group restated a “buy” rating and issued a $300.00 price objective on shares of Boeing in a research report on Friday, October 6th. Nord/LB set a $250.00 price objective on shares of Boeing and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Royal Bank of Canada raised their price objective on shares of Boeing from $269.00 to $273.00 and gave the company a “sector perform” rating in a research report on Thursday, October 26th. Finally, Vetr lowered shares of Boeing from a “hold” rating to a “sell” rating and set a $263.71 price objective for the company. in a research report on Friday, December 1st. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $266.73.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. The business had revenue of $24.31 billion for the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. Boeing’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $3.51 earnings per share. equities analysts anticipate that Boeing Co will post 10.1 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $1.71 dividend. This is an increase from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is currently 52.21%.
Boeing announced that its Board of Directors has authorized a share repurchase plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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