Boeing Co (BA) Stake Lowered by Howe & Rusling Inc.

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Howe & Rusling Inc. reduced its position in shares of Boeing Co (NYSE:BA) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,340 shares of the aircraft producer’s stock after selling 390 shares during the period. Howe & Rusling Inc.’s holdings in Boeing were worth $785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BA. EP Wealth Advisors LLC lifted its stake in Boeing by 2.7% in the fourth quarter. EP Wealth Advisors LLC now owns 5,536 shares of the aircraft producer’s stock worth $1,633,000 after purchasing an additional 145 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC raised its stake in shares of Boeing by 0.5% during the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 30,349 shares of the aircraft producer’s stock valued at $10,182,000 after acquiring an additional 146 shares during the last quarter. TNB Financial raised its stake in shares of Boeing by 1.6% during the second quarter. TNB Financial now owns 9,397 shares of the aircraft producer’s stock valued at $3,153,000 after acquiring an additional 149 shares during the last quarter. Elite Wealth Management Inc. raised its stake in shares of Boeing by 17.8% during the first quarter. Elite Wealth Management Inc. now owns 993 shares of the aircraft producer’s stock valued at $326,000 after acquiring an additional 150 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. raised its stake in shares of Boeing by 9.5% during the second quarter. Bourne Lent Asset Management Inc. now owns 1,728 shares of the aircraft producer’s stock valued at $580,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 69.77% of the company’s stock.

Shares of NYSE BA opened at $346.68 on Thursday. Boeing Co has a 1 year low of $234.29 and a 1 year high of $374.48. The company has a debt-to-equity ratio of -7.65, a quick ratio of 0.32 and a current ratio of 1.11. The stock has a market cap of $196.94 billion, a P/E ratio of 23.66, a P/E/G ratio of 1.70 and a beta of 1.44.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.12). Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The company had revenue of $24.26 billion for the quarter, compared to analysts’ expectations of $24.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. Boeing’s quarterly revenue was up 5.2% compared to the same quarter last year. equities analysts predict that Boeing Co will post 14.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, August 9th. Boeing’s dividend payout ratio is currently 56.81%.

BA has been the subject of several recent analyst reports. Canaccord Genuity reaffirmed a “hold” rating and set a $350.00 price objective on shares of Boeing in a research note on Tuesday, July 24th. Cowen reaffirmed a “buy” rating and set a $430.00 price objective on shares of Boeing in a research note on Friday, July 13th. Robert W. Baird reaffirmed a “buy” rating and set a $450.00 price objective on shares of Boeing in a research note on Monday, August 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $410.00 price objective on shares of Boeing in a research note on Sunday, July 29th. Finally, ValuEngine downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $396.41.

Boeing Profile

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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