Boeing Co (BA) Shares Bought by Private Wealth Partners LLC
Private Wealth Partners LLC raised its holdings in Boeing Co (NYSE:BA) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 52,624 shares of the aircraft producer’s stock after acquiring an additional 618 shares during the period. Boeing accounts for about 2.7% of Private Wealth Partners LLC’s portfolio, making the stock its 12th biggest position. Private Wealth Partners LLC’s holdings in Boeing were worth $13,378,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. LMR Partners LLP acquired a new position in shares of Boeing during the second quarter worth about $4,904,000. Allegis Investment Advisors LLC acquired a new position in shares of Boeing during the second quarter worth about $351,000. Blair William & Co. IL boosted its position in shares of Boeing by 4.1% during the second quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock worth $31,170,000 after buying an additional 6,141 shares during the period. Alps Advisors Inc. boosted its position in shares of Boeing by 46.4% during the second quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock worth $956,000 after buying an additional 1,532 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Boeing by 23.2% during the second quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock worth $117,989,000 after buying an additional 112,520 shares during the period. 70.87% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Seaport Global Securities reissued a “buy” rating and set a $430.00 price target on shares of Boeing in a research report on Thursday. Wolfe Research raised Boeing from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Cowen reissued an “outperform” rating and set a $415.00 price target (up from $320.00) on shares of Boeing in a research report on Tuesday. Citigroup increased their price target on Boeing to $380.00 and gave the company a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. Finally, Robert W. Baird set a $433.00 price target on Boeing and gave the company a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Boeing presently has a consensus rating of “Buy” and an average price target of $304.10.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.07. The firm had revenue of $24.31 billion for 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 for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.51 earnings per share. equities research analysts forecast that Boeing Co will post 10.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a $1.71 dividend. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.84 annualized dividend and a yield of 2.03%. Boeing’s dividend payout ratio is currently 52.25%.
Boeing announced that its board has initiated a stock repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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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