Centre Asset Management LLC raised its holdings in Boeing Co (NYSE:BA) by 11.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,482 shares of the aircraft producer’s stock after buying an additional 1,842 shares during the quarter. Centre Asset Management LLC’s holdings in Boeing were worth $6,728,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB raised its holdings in Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Next Capital Management LLC purchased a new position in Boeing during the 4th quarter worth approximately $32,000. 1 North Wealth Services LLC purchased a new position in Boeing during the 4th quarter worth approximately $40,000. Clarfeld Financial Advisors LLC purchased a new position in shares of Boeing during the 4th quarter valued at $40,000. Finally, Semmax Financial Advisors Inc. purchased a new position in shares of Boeing during the 4th quarter valued at $45,000. Institutional investors own 67.92% of the company’s stock.
Several research firms recently issued reports on BA. Zacks Investment Research raised shares of Grana y Montero SAA from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Friday, July 19th. Cowen set a $460.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Friday, July 19th. Bank of America set a $420.00 target price on shares of Boeing and gave the company a “hold” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. Boeing presently has an average rating of “Hold” and a consensus price target of $403.79.
BA opened at $348.09 on Friday. Boeing Co has a 1-year low of $292.47 and a 1-year high of $446.01. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The firm has a market capitalization of $203.35 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.52 and a beta of 1.30. The business’s fifty day simple moving average is $361.08.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.33 earnings per share. On average, analysts forecast that Boeing Co will post 12.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be issued a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s payout ratio is 51.34%.
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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