Boeing Co (BA) Stake Decreased by Butensky & Cohen Financial Security Inc.
Butensky & Cohen Financial Security Inc. lowered its stake in Boeing Co (NYSE:BA) by 20.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,543 shares of the aircraft producer’s stock after selling 1,945 shares during the period. Boeing makes up 1.7% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 23rd largest holding. Butensky & Cohen Financial Security Inc.’s holdings in Boeing were worth $1,917,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in BA. Guild Investment Management Inc. bought a new stake in shares of Boeing during the 3rd quarter worth approximately $498,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Boeing by 41.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 257,203 shares of the aircraft producer’s stock worth $65,384,000 after acquiring an additional 75,305 shares during the period. Tompkins Financial Corp lifted its holdings in shares of Boeing by 22.2% during the 3rd quarter. Tompkins Financial Corp now owns 1,720 shares of the aircraft producer’s stock worth $437,000 after acquiring an additional 312 shares during the period. Windward Capital Management Co. CA bought a new stake in shares of Boeing during the 3rd quarter worth approximately $5,126,000. Finally, Asset Dedication LLC lifted its holdings in shares of Boeing by 7.0% during the 3rd quarter. Asset Dedication LLC now owns 9,380 shares of the aircraft producer’s stock worth $2,392,000 after acquiring an additional 613 shares during the period. Institutional investors and hedge funds own 70.85% of the company’s stock.
A number of brokerages have recently weighed in on BA. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $288.75 price target for the company in a report on Monday, December 11th. Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Cowen reissued a “buy” rating and issued a $315.00 price objective on shares of Boeing in a research note on Thursday, October 26th. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Nord/LB set a $250.00 price objective on shares of Boeing and gave the company a “neutral” rating in a research note 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. The company currently has an average rating of “Buy” and a consensus price target of $266.73.
Boeing (NYSE:BA) last released its quarterly 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. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The company had revenue of $24.31 billion for the quarter, compared to analyst estimates of $24.09 billion. During the same period last year, the firm earned $3.51 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. equities research analysts anticipate that Boeing Co will post 10.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $1.71 per share. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is presently 52.21%.
Boeing announced that its Board of Directors has approved a stock repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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