Level Four Advisory Services LLC reduced its holdings in Boeing Co (NYSE:BA) by 47.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,306 shares of the aircraft producer’s stock after selling 3,824 shares during the period. Level Four Advisory Services LLC’s holdings in Boeing were worth $1,389,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Merriman Wealth Management LLC increased its holdings in Boeing by 29.1% during the 3rd quarter. Merriman Wealth Management LLC now owns 4,019 shares of the aircraft producer’s stock worth $1,495,000 after purchasing an additional 905 shares during the period. Commonwealth Equity Services LLC increased its holdings in Boeing by 1.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 251,606 shares of the aircraft producer’s stock worth $93,572,000 after purchasing an additional 3,416 shares during the period. Smith Salley & Associates purchased a new stake in Boeing during the 3rd quarter worth about $5,254,000. Gamble Jones Investment Counsel increased its holdings in Boeing by 6.4% during the 3rd quarter. Gamble Jones Investment Counsel now owns 16,236 shares of the aircraft producer’s stock worth $6,038,000 after purchasing an additional 983 shares during the period. Finally, Donaldson Capital Management LLC increased its holdings in Boeing by 1.9% during the 3rd quarter. Donaldson Capital Management LLC now owns 107,549 shares of the aircraft producer’s stock worth $39,998,000 after purchasing an additional 2,021 shares during the period. Hedge funds and other institutional investors own 69.76% of the company’s stock.
In other Boeing news, SVP Heidi B. Capozzi sold 2,916 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $410.84, for a total transaction of $1,198,009.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Michael Luttig sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $410.46, for a total value of $3,488,910.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,247 shares of company stock worth $28,922,977 in the last 90 days. 0.23% of the stock is currently owned by company insiders.
NYSE:BA opened at $375.46 on Tuesday. The company has a market cap of $214.30 billion, a P/E ratio of 23.68, a PEG ratio of 1.99 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 25.99. Boeing Co has a 52-week low of $292.47 and a 52-week high of $446.01.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.96. The firm had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 EPS. On average, research analysts expect that Boeing Co will post 17.07 EPS for the current fiscal year.
Boeing announced that its board has authorized a share repurchase program on Monday, December 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase up to 11.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
BA has been the topic of several recent research reports. Jefferies Financial Group upped their price target on Boeing to $448.00 and gave the stock a “buy” rating in a report on Monday, February 4th. UBS Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, January 9th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Credit Suisse Group reiterated a “buy” rating and issued a $456.00 price objective on shares of Boeing in a report on Tuesday, December 18th. Finally, Cowen reiterated a “buy” rating and issued a $445.00 price objective on shares of Boeing in a report on Tuesday, December 18th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $409.61.
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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