Advantage Investment Management LLC Acquires 738 Shares of Boeing Co (BA)
Advantage Investment Management LLC grew its holdings in Boeing Co (NYSE:BA) by 60.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,952 shares of the aircraft producer’s stock after acquiring an additional 738 shares during the quarter. Advantage Investment Management LLC’s holdings in Boeing were worth $496,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in BA. LMR Partners LLP bought a new stake in Boeing during the second quarter worth about $4,904,000. Allegis Investment Advisors LLC bought a new stake in Boeing during the second quarter worth about $351,000. Blair William & Co. IL lifted its position in 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 purchasing an additional 6,141 shares during the period. Alps Advisors Inc. lifted its position in 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 purchasing an additional 1,532 shares during the period. Finally, State of Wisconsin Investment Board lifted its position in 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 purchasing an additional 112,520 shares during the period. 70.45% of the stock is owned by institutional investors.
Several research firms recently weighed in on BA. Canaccord Genuity upped their price objective on shares of Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a research report on Thursday, February 1st. Wells Fargo & Co reaffirmed a “market perform” rating and set a $365.00 price objective (up previously from $330.00) on shares of Boeing in a research report on Thursday, February 1st. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada set a $363.00 target price on shares of Boeing and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Finally, Cowen reissued a “buy” rating and issued a $415.00 target price on shares of Boeing in a report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $353.24.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. analysts expect that Boeing Co will post 14.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is currently 58.31%.
Boeing announced that its board has authorized a share repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
Boeing Company Profile
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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