Braun Stacey Associates Inc. grew its position in Boeing Co (NYSE:BA) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,419 shares of the aircraft producer’s stock after purchasing an additional 2,148 shares during the period. Boeing comprises about 1.2% of Braun Stacey Associates Inc.’s portfolio, making the stock its 21st largest position. Braun Stacey Associates Inc.’s holdings in Boeing were worth $17,252,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in BA. First Manhattan Co. increased its holdings in Boeing by 4.6% during the second quarter. First Manhattan Co. now owns 13,910 shares of the aircraft producer’s stock worth $4,666,000 after buying an additional 606 shares during the last quarter. Suffolk Capital Management LLC increased its holdings in Boeing by 26.8% during the second quarter. Suffolk Capital Management LLC now owns 48,240 shares of the aircraft producer’s stock worth $16,185,000 after buying an additional 10,189 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Boeing by 18.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 24,991 shares of the aircraft producer’s stock worth $8,385,000 after buying an additional 3,910 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Boeing by 5.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,064,080 shares of the aircraft producer’s stock worth $692,519,000 after buying an additional 103,855 shares during the last quarter. Finally, Cue Financial Group Inc. purchased a new stake in Boeing during the second quarter worth about $754,000. Institutional investors own 69.77% of the company’s stock.
Shares of NYSE:BA opened at $349.28 on Friday. The company has a debt-to-equity ratio of -7.65, a current ratio of 1.11 and a quick ratio of 0.32. The stock has a market cap of $199.17 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.44. Boeing Co has a twelve month low of $235.21 and a twelve month high of $374.48.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The business had revenue of $24.26 billion for the quarter, compared to the consensus estimate of $24.02 billion. Boeing had a return on equity of 2,344.87% and a net margin of 9.92%. Boeing’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.55 EPS. analysts predict that Boeing Co will post 14.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 10th were given a $1.71 dividend. The ex-dividend date was Thursday, August 9th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.96%. Boeing’s dividend payout ratio (DPR) is currently 56.81%.
BA has been the subject of a number of research analyst reports. Canaccord Genuity restated a “hold” rating and set a $350.00 price objective on shares of Boeing in a report on Tuesday, July 24th. Cowen restated a “buy” rating and set a $430.00 price objective on shares of Boeing in a report on Friday, July 13th. ValuEngine downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird restated a “buy” rating and set a $450.00 price objective on shares of Boeing in a report on Monday, August 13th. Finally, Jefferies Financial Group restated a “buy” rating and set a $410.00 price objective on shares of Boeing in a report on Sunday, July 29th. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Boeing currently has an average rating of “Buy” and an average target price of $396.41.
Boeing Company 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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