Advisors Capital Management LLC raised its holdings in shares of Boeing Co (NYSE:BA) by 14.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,993 shares of the aircraft producer’s stock after purchasing an additional 491 shares during the period. Advisors Capital Management LLC’s holdings in Boeing were worth $1,485,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Vision Capital Management Inc. increased its position in shares of Boeing by 12.6% during the third quarter. Vision Capital Management Inc. now owns 1,791 shares of the aircraft producer’s stock worth $666,000 after purchasing an additional 200 shares in the last quarter. Manning & Napier Group LLC grew its holdings in shares of Boeing by 6.8% during the third quarter. Manning & Napier Group LLC now owns 87,484 shares of the aircraft producer’s stock valued at $32,534,000 after buying an additional 5,557 shares during the last quarter. Lourd Capital LLC purchased a new stake in shares of Boeing during the third quarter valued at $944,000. Factory Mutual Insurance Co. grew its holdings in shares of Boeing by 3.4% during the third quarter. Factory Mutual Insurance Co. now owns 221,400 shares of the aircraft producer’s stock valued at $82,339,000 after buying an additional 7,300 shares during the last quarter. Finally, Univest Corp of Pennsylvania purchased a new stake in shares of Boeing during the third quarter valued at $219,000. 70.42% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BA opened at $370.77 on Friday. Boeing Co has a one year low of $259.56 and a one year high of $394.28. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.32 and a current ratio of 1.10. The firm has a market capitalization of $208.11 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, beating the consensus estimate of $3.47 by $0.11. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The company had revenue of $25.15 billion for the quarter, compared to analyst estimates of $23.84 billion. During the same period in the prior year, the company earned $2.72 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Boeing Co will post 15.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, November 8th. Boeing’s payout ratio is 56.81%.
In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $350.07, for a total value of $1,750,350.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.
BA has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “hold” rating and set a $350.00 price objective on shares of Boeing in a report on Tuesday, July 24th. Jefferies Financial Group boosted their price objective on shares of Boeing to $410.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $407.00 price objective on the stock in a report on Friday, October 26th. Cowen reissued a “buy” rating and set a $430.00 price objective on shares of Boeing in a report on Friday, July 13th. Finally, Credit Suisse Group boosted their price objective on shares of Boeing from $455.00 to $456.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $410.21.
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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.
Further Reading: Dollar Cost Averaging
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