Personal Capital Advisors Corp Raises Holdings in Boeing Co (BA)
Personal Capital Advisors Corp boosted its position in Boeing Co (NYSE:BA) by 21.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,762 shares of the aircraft producer’s stock after purchasing an additional 484 shares during the period. Personal Capital Advisors Corp’s holdings in Boeing were worth $891,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of BA. Corrado Advisors LLC raised its holdings in shares of Boeing by 0.5% during the fourth quarter. Corrado Advisors LLC now owns 8,714 shares of the aircraft producer’s stock valued at $2,810,000 after acquiring an additional 43 shares in the last quarter. Winthrop Advisory Group LLC raised its holdings in shares of Boeing by 2.8% during the fourth quarter. Winthrop Advisory Group LLC now owns 1,672 shares of the aircraft producer’s stock valued at $539,000 after acquiring an additional 45 shares in the last quarter. Acropolis Investment Management LLC raised its holdings in shares of Boeing by 2.0% during the fourth quarter. Acropolis Investment Management LLC now owns 2,444 shares of the aircraft producer’s stock valued at $788,000 after acquiring an additional 48 shares in the last quarter. Birmingham Capital Management Co. Inc. AL raised its holdings in shares of Boeing by 3.4% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 1,502 shares of the aircraft producer’s stock valued at $559,000 after acquiring an additional 50 shares in the last quarter. Finally, WealthPLAN Partners LLC raised its holdings in shares of Boeing by 0.8% during the third quarter. WealthPLAN Partners LLC now owns 7,392 shares of the aircraft producer’s stock valued at $2,349,000 after acquiring an additional 62 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Timothy John Keating sold 26,557 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $395.47, for a total transaction of $10,502,496.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.96. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The firm had revenue of $28.34 billion during the quarter, compared to the consensus estimate of $26.76 billion. During the same period last year, the company earned $3.04 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts predict that Boeing Co will post 20.14 earnings per share for the current year.
Boeing declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be issued a dividend of $2.055 per share. The ex-dividend date is Thursday, February 7th. This is an increase from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 annualized dividend and a dividend yield of 2.03%. Boeing’s dividend payout ratio (DPR) is presently 51.34%.
BA has been the subject of a number of recent analyst reports. Goldman Sachs Group set a $387.00 target price on Boeing and gave the company a “neutral” rating in a report on Wednesday, October 24th. Jefferies Financial Group upped their target price on Boeing from $415.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Societe Generale set a $409.00 target price on Boeing and gave the company a “buy” rating in a report on Thursday, October 25th. Argus restated a “fair value” rating and set a $395.00 target price on shares of Boeing in a report on Thursday, October 25th. Finally, Canaccord Genuity restated a “hold” rating and set a $360.00 target price (up previously from $350.00) on shares of Boeing in a report on Thursday, October 25th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Boeing has a consensus rating of “Buy” and a consensus target price of $412.08.
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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