Boeing Co (BA) Holdings Reduced by Tufton Capital Management
Tufton Capital Management decreased its position in shares of Boeing Co (NYSE:BA) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,476 shares of the aircraft producer’s stock after selling 641 shares during the quarter. Tufton Capital Management’s holdings in Boeing were worth $4,859,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC raised its position in shares of Boeing by 0.4% during the second 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 last quarter. High Falls Advisors Inc raised its position in shares of Boeing by 0.3% during the second 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 last quarter. Arcus Capital Partners LLC raised its position in shares of Boeing by 0.7% during the second 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 last quarter. Strategic Advisors LLC raised its position in shares of Boeing by 1.0% during the second quarter. Strategic Advisors LLC now owns 2,021 shares of the aircraft producer’s stock valued at $400,000 after buying an additional 20 shares during the last quarter. Finally, Empirical Financial Services LLC raised its position in shares of Boeing by 0.9% during the second quarter. Empirical Financial Services LLC now owns 3,094 shares of the aircraft producer’s stock valued at $612,000 after buying an additional 28 shares during the last quarter. Institutional investors own 70.75% of the company’s stock.
BA has been the subject of a number of recent research reports. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $288.75 target price for the company in a report on Monday, December 11th. Berenberg Bank set a $395.00 target price on shares of Boeing and gave the company a “buy” rating in a report on Monday, January 29th. Buckingham Research reissued a “hold” rating and issued a $203.00 target price on shares of Boeing in a report on Friday, December 22nd. Jefferies Group reissued a “buy” rating and issued a $339.00 target price on shares of Boeing in a report on Monday, January 8th. Finally, Wells Fargo reissued a “market perform” rating and issued a $365.00 target price (up from $330.00) on shares of Boeing in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $358.47.
Boeing stock opened at $330.47 on Monday. The company has a market cap of $194,478.39, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.37. Boeing Co has a one year low of $173.75 and a one year high of $371.60. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. The firm had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 earnings per share. equities analysts anticipate that Boeing Co will post 14.05 EPS for the current fiscal year.
Boeing announced that its Board of Directors has initiated a share buyback plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management 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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