First Manhattan Co. Buys 606 Shares of Boeing Co (BA)

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First Manhattan Co. boosted its stake in shares of Boeing Co (NYSE:BA) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,910 shares of the aircraft producer’s stock after purchasing an additional 606 shares during the quarter. First Manhattan Co.’s holdings in Boeing were worth $4,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. EP Wealth Advisors LLC lifted its holdings in shares of Boeing by 2.7% during 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 period. Cliftonlarsonallen Wealth Advisors LLC lifted its holdings 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 worth $10,182,000 after purchasing an additional 146 shares during the period. TNB Financial lifted its holdings in shares of Boeing by 1.6% during the second quarter. TNB Financial now owns 9,397 shares of the aircraft producer’s stock worth $3,153,000 after purchasing an additional 149 shares during the period. Elite Wealth Management Inc. lifted its holdings 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 worth $326,000 after purchasing an additional 150 shares during the period. Finally, Bourne Lent Asset Management Inc. lifted its holdings 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 worth $580,000 after purchasing an additional 150 shares during the period. 69.77% of the stock is currently owned by institutional investors.

BA has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $410.00 target price on shares of Boeing in a report on Sunday, July 29th. Goldman Sachs Group set a $375.00 target price on Boeing and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $455.00 target price on shares of Boeing in a report on Thursday, July 26th. Berenberg Bank reaffirmed a “buy” rating and set a $430.00 target price on shares of Boeing in a report on Monday, September 3rd. Finally, UBS Group lifted their target price on Boeing from $325.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $396.41.

Shares of BA stock 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 company has a market cap of $199.17 billion, a P/E ratio of 29.01, a P/E/G 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 announced its quarterly earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.12). The company had revenue of $24.26 billion for the quarter, compared to analysts’ expectations of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.55 earnings per share. equities analysts predict that Boeing Co will post 14.63 earnings per share for the current year.

The firm 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 9th. Boeing’s dividend payout ratio (DPR) is presently 56.81%.

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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