Boeing Co (BA) Position Trimmed by Murphy Capital Management Inc.

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Murphy Capital Management Inc. cut its holdings in shares of Boeing Co (NYSE:BA) by 6.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 40,512 shares of the aircraft producer’s stock after selling 2,613 shares during the quarter. Boeing comprises about 2.1% of Murphy Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Murphy Capital Management Inc.’s holdings in Boeing were worth $15,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BA. Argent Trust Co boosted its holdings in Boeing by 5.1% during the fourth quarter. Argent Trust Co now owns 5,625 shares of the aircraft producer’s stock worth $1,659,000 after purchasing an additional 271 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in Boeing during the first quarter worth about $463,000. Tibra Equities Europe Ltd purchased a new position in Boeing during the first quarter worth about $28,197,000. GSA Capital Partners LLP purchased a new position in Boeing in the first quarter valued at about $5,951,000. Finally, Quadrature Capital Ltd purchased a new position in Boeing in the first quarter valued at about $1,651,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.

Shares of BA stock opened at $370.77 on Friday. The company has a market cap of $208.11 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.32 and a current ratio of 1.10. Boeing Co has a 12 month low of $259.56 and a 12 month high of $394.28.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, beating the Zacks’ consensus estimate of $3.47 by $0.11. The company had revenue of $25.15 billion for the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. Boeing’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.72 EPS. As a group, research analysts forecast that Boeing Co will post 15.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, November 8th. Boeing’s payout ratio is currently 56.81%.

A number of research analysts have weighed in on BA shares. Morgan Stanley set a $400.00 target price on shares of Boeing and gave the company a “hold” rating in a research note on Friday, September 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 target price on shares of Boeing in a research note on Sunday, July 29th. Societe Generale set a $409.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Thursday, October 25th. Goldman Sachs Group set a $375.00 target price on shares of Boeing and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $455.00 target price on shares of Boeing in a research note on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $410.21.

In related news, SVP Diana L. Sands sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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