Stearns Financial Services Group decreased its stake in Boeing Co (NYSE:BA) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,776 shares of the aircraft producer’s stock after selling 591 shares during the period. Stearns Financial Services Group’s holdings in Boeing were worth $1,214,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Clear Perspective Advisors LLC lifted its position in Boeing by 31.0% in the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares during the period. CWH Capital Management Inc. bought a new position in Boeing in the second quarter worth $134,000. Catamount Wealth Management bought a new position in Boeing in the second quarter worth $138,000. Herndon Capital Management LLC lifted its position in Boeing by 29.7% in the second quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after purchasing an additional 165 shares during the period. Finally, Acrospire Investment Management LLC lifted its position in Boeing by 14.3% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the aircraft producer’s stock worth $158,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 70.85% of the company’s stock.
A number of research analysts have issued reports on BA shares. Deutsche Bank lifted their price objective on Boeing to $300.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Jefferies Group reissued a “buy” rating and set a $300.00 price objective on shares of Boeing in a report on Friday, October 6th. Nord/LB set a $250.00 price objective on Boeing and gave the company a “neutral” rating in a report on Thursday, November 2nd. Royal Bank of Canada lifted their price objective on Boeing from $269.00 to $273.00 and gave the company a “sector perform” rating in a report on Thursday, October 26th. Finally, Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $263.71 price objective for the company. in a report on Friday, December 1st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $266.73.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The company had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. During the same period last year, the company posted $3.51 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. sell-side analysts predict that Boeing Co will post 10.11 EPS for the current year.
Boeing announced that its Board of Directors has authorized a share buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.30%. Boeing’s dividend payout ratio (DPR) is 52.21%.
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Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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