Boeing Co (BA) Shares Bought by Breton Hill Capital Ltd.
Breton Hill Capital Ltd. increased its holdings in shares of Boeing Co (NYSE:BA) by 42.9% in the third quarter, Holdings Channel reports. The fund owned 4,452 shares of the aircraft producer’s stock after buying an additional 1,336 shares during the quarter. Breton Hill Capital Ltd.’s holdings in Boeing were worth $1,132,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Clear Perspective Advisors LLC lifted its stake in shares of Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after acquiring an additional 135 shares during the last quarter. CWH Capital Management Inc. bought a new stake in Boeing during the 2nd quarter valued at $134,000. Catamount Wealth Management bought a new stake in Boeing during the 2nd quarter valued at $138,000. Herndon Capital Management LLC raised its position in Boeing by 29.7% during the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock valued at $142,000 after purchasing an additional 165 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its position in Boeing by 14.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the aircraft producer’s stock valued at $158,000 after purchasing an additional 100 shares in the last quarter. 70.87% of the stock is owned by hedge funds and other institutional investors.
Boeing Co (NYSE:BA) opened at $335.16 on Wednesday. Boeing Co has a one year low of $156.75 and a one year high of $347.73. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18. The firm has a market capitalization of $199,610.00, a price-to-earnings ratio of 30.83, a P/E/G ratio of 2.28 and a beta of 1.23.
Boeing declared that its Board of Directors has authorized a stock buyback program on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.04%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s payout ratio is 52.25%.
BA has been the subject of a number of research analyst reports. Buckingham Research reaffirmed a “hold” rating and set a $203.00 target price on shares of Boeing in a research report on Friday, December 22nd. Jefferies Group reiterated a “buy” rating and issued a $339.00 price target on shares of Boeing in a report on Monday, January 8th. Credit Suisse Group reiterated an “outperform” rating and issued a $375.00 price target (up from $310.00) on shares of Boeing in a report on Friday, January 12th. They noted that the move was a valuation call. Nord/LB set a $250.00 price target on Boeing and gave the company a “neutral” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target on the stock in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. Boeing currently has a consensus rating of “Buy” and an average target price of $298.63.
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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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