Beaton Management Co. Inc. Purchases New Holdings in Boeing Co (BA)
Beaton Management Co. Inc. purchased a new stake in Boeing Co (NYSE:BA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,963 shares of the aircraft producer’s stock, valued at approximately $784,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Perspective Advisors LLC increased its stake in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after purchasing an additional 135 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Boeing by 181.9% in the 1st quarter. Proficio Capital Partners LLC now owns 623 shares of the aircraft producer’s stock valued at $115,000 after purchasing an additional 402 shares in the last quarter. Vantage Investment Advisors LLC increased its stake in Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after purchasing an additional 84 shares in the last quarter. CWH Capital Management Inc. purchased a new position in Boeing during the second quarter worth $134,000. Finally, Catamount Wealth Management purchased a new position in Boeing during the second quarter worth $138,000. 70.97% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $288.75 price target for the company in a research report on Monday. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Cowen reissued a “buy” rating and set a $315.00 price target on shares of Boeing in a research report on Thursday, October 26th. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Nord/LB set a $250.00 price target on Boeing and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Boeing currently has a consensus rating of “Buy” and a consensus price target of $266.73.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.51 earnings per share. analysts expect that Boeing Co will post 10.1 EPS for the current year.
Boeing declared that its Board of Directors has authorized a share buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a $1.71 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is currently 52.21%.
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Boeing Company 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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