Boeing Co (BA) Shares Sold by USA Financial Portformulas Corp
USA Financial Portformulas Corp decreased its holdings in Boeing Co (NYSE:BA) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,970 shares of the aircraft producer’s stock after selling 3,620 shares during the quarter. Boeing makes up 1.9% of USA Financial Portformulas Corp’s portfolio, making the stock its 2nd biggest position. USA Financial Portformulas Corp’s holdings in Boeing were worth $8,127,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. First National Bank of Mount Dora Trust Investment Services raised its stake in Boeing by 0.5% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 22,974 shares of the aircraft producer’s stock valued at $4,543,000 after buying an additional 120 shares in the last quarter. Catawba Capital Management VA raised its stake in Boeing by 2.8% during the second quarter. Catawba Capital Management VA now owns 23,441 shares of the aircraft producer’s stock valued at $4,635,000 after buying an additional 644 shares in the last quarter. Curbstone Financial Management Corp raised its stake in Boeing by 0.8% during the second quarter. Curbstone Financial Management Corp now owns 1,900 shares of the aircraft producer’s stock valued at $376,000 after buying an additional 15 shares in the last quarter. Stock Yards Bank & Trust Co. raised its stake in Boeing by 5.7% during the second quarter. Stock Yards Bank & Trust Co. now owns 69,509 shares of the aircraft producer’s stock valued at $13,745,000 after buying an additional 3,776 shares in the last quarter. Finally, Capital Asset Advisory Services LLC raised its stake in Boeing by 16.0% during the second quarter. Capital Asset Advisory Services LLC now owns 2,286 shares of the aircraft producer’s stock valued at $451,000 after buying an additional 315 shares in the last quarter. Institutional investors and hedge funds own 70.84% of the company’s stock.
Several analysts have issued reports on the company. Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $288.75 price objective on the stock in a research note on Monday, December 11th. Zacks Investment Research cut Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Cowen restated a “buy” rating and set a $315.00 price objective on shares of Boeing in a research note on Thursday, October 26th. Buckingham Research restated a “hold” rating and set a $203.00 price objective on shares of Boeing in a research note on Friday, December 22nd. Finally, Nord/LB set a $250.00 price objective on Boeing and gave the company a “neutral” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. Boeing presently has an average rating of “Hold” and a consensus target price of $280.74.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.07. The company had revenue of $24.31 billion during the quarter, compared to analyst estimates 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 was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.51 earnings per share. sell-side analysts predict that Boeing Co will post 10.14 EPS for the current fiscal year.
Boeing declared that its Board of Directors has initiated a share repurchase program on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a dividend of $1.71 per share. The ex-dividend date is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a dividend yield of 2.03%. Boeing’s dividend payout ratio is 52.25%.
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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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