Oak Asset Management LLC Lowers Holdings in Boeing Co (BA)
Oak Asset Management LLC reduced its holdings in shares of Boeing Co (NYSE:BA) by 9.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,490 shares of the aircraft producer’s stock after selling 265 shares during the period. Oak Asset Management LLC’s holdings in Boeing were worth $803,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of BA. FMR LLC boosted its holdings in shares of Boeing by 15.1% in the third quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock valued at $3,174,259,000 after acquiring an additional 1,119,587 shares in the last quarter. Capital International Investors boosted its holdings in shares of Boeing by 26.1% in the third quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock valued at $1,802,956,000 after acquiring an additional 1,002,825 shares in the last quarter. Winslow Capital Management LLC boosted its holdings in shares of Boeing by 50.1% in the third quarter. Winslow Capital Management LLC now owns 1,217,030 shares of the aircraft producer’s stock valued at $452,613,000 after acquiring an additional 406,078 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Boeing by 240.8% in the third quarter. Canada Pension Plan Investment Board now owns 532,010 shares of the aircraft producer’s stock valued at $197,855,000 after acquiring an additional 375,900 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Boeing by 145.6% in the third quarter. SG Americas Securities LLC now owns 104,870 shares of the aircraft producer’s stock valued at $39,001,000 after acquiring an additional 334,955 shares in the last quarter. 76.86% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on the stock. Goldman Sachs Group set a $387.00 price objective on shares of Boeing and gave the stock a “neutral” rating in a report on Wednesday, October 24th. Argus restated a “fair value” rating and set a $395.00 target price on shares of Boeing in a research report on Thursday, October 25th. Jefferies Financial Group set a $420.00 target price on shares of Boeing and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Sanford C. Bernstein lifted their target price on shares of Boeing from $426.00 to $440.00 and gave the stock a “positive” rating in a research report on Friday, October 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $470.00 target price on shares of Boeing in a research report on Thursday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $412.08.
Shares of BA stock opened at $404.91 on Monday. The firm has a market capitalization of $229.94 billion, a PE ratio of 25.29, a PEG ratio of 1.47 and a beta of 1.31. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 25.99. Boeing Co has a twelve month low of $292.47 and a twelve month high of $413.88.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.96. The firm had revenue of $28.34 billion for the quarter, compared to analysts’ expectations of $26.76 billion. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. On average, research analysts predict that Boeing Co will post 20.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be issued a $2.055 dividend. The ex-dividend date of this dividend is Thursday, February 7th. This is a boost from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 annualized dividend and a yield of 2.03%. Boeing’s dividend payout ratio is currently 51.34%.
Boeing announced that its board has initiated a stock repurchase plan on Monday, December 17th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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