Boeing Co (BA) Position Lessened by Marietta Wealth Management LLC
Marietta Wealth Management LLC reduced its position in Boeing Co (NYSE:BA) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,325 shares of the aircraft producer’s stock after selling 1,599 shares during the quarter. Boeing makes up approximately 1.5% of Marietta Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Marietta Wealth Management LLC’s holdings in Boeing were worth $2,625,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Riverpoint Wealth Management Holdings LLC grew its position in Boeing by 0.3% in the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after acquiring an additional 4 shares in the last quarter. Accredited Investors Inc. boosted its stake in shares of Boeing by 0.4% in the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock valued at $325,000 after buying an additional 6 shares during the period. Arete Wealth Advisors LLC boosted its stake in shares of Boeing by 0.4% in the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after buying an additional 9 shares during the period. High Falls Advisors Inc boosted its stake in shares of Boeing by 0.3% in the 2nd quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock valued at $696,000 after buying an additional 11 shares during the period. Finally, Arcus Capital Partners LLC boosted its stake in shares of Boeing by 0.7% in the 2nd quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock valued at $324,000 after buying an additional 12 shares during the period. 70.78% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on BA shares. Buckingham Research set a $289.00 price objective on Boeing and gave the company a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective for the company in a research note on Tuesday, January 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $345.00 price objective (up previously from $290.00) on shares of Boeing in a research note on Thursday, February 1st. Robert W. Baird set a $433.00 price objective on Boeing and gave the company a “buy” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Buy” and a consensus target price of $353.24.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. During the same quarter in the prior year, the company posted $2.47 earnings per share. Boeing’s quarterly revenue was up 8.9% on a year-over-year basis. analysts expect that Boeing Co will post 14.01 EPS for the current fiscal year.
Boeing declared that its Board of Directors has authorized a share 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 buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is currently 50.78%.
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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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