Trust Investment Advisors lifted its holdings in shares of Boeing Co (NYSE:BA) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,380 shares of the aircraft producer’s stock after purchasing an additional 50 shares during the quarter. Boeing accounts for 1.4% of Trust Investment Advisors’ holdings, making the stock its 22nd largest position. Trust Investment Advisors’ holdings in Boeing were worth $1,090,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Ironwood Financial llc acquired a new stake in shares of Boeing during the 4th quarter worth approximately $32,000. Proffitt & Goodson Inc. boosted its position in shares of Boeing by 1,371.4% during the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock worth $33,000 after acquiring an additional 96 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Boeing by 159.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock worth $45,000 after acquiring an additional 86 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Boeing during the 4th quarter worth approximately $60,000. Finally, CX Institutional acquired a new stake in shares of Boeing during the 4th quarter worth approximately $74,000. 69.77% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on BA. Tigress Financial reiterated a “buy” rating on shares of Boeing in a research report on Wednesday, March 27th. Citigroup began coverage on shares of Boeing in a research report on Wednesday, March 27th. They set a “buy” rating on the stock. Argus lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $371.30 price target on the stock. in a research report on Tuesday, March 19th. ValuEngine lowered shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Norddeutsche Landesbank reiterated a “sell” rating and set a $300.00 price target on shares of Boeing in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Buy” and an average price target of $405.91.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.96. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The firm had revenue of $28.34 billion for the quarter, compared to analyst estimates of $26.76 billion. During the same quarter last year, the business posted $3.04 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts anticipate that Boeing Co will post 20.11 EPS for the current fiscal year.
Boeing declared that its Board of Directors has approved a share repurchase program on Monday, December 17th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to reacquire up to 11.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, EVP Timothy John Keating sold 26,557 shares of Boeing stock in a transaction on Monday, February 4th. The shares were sold at an average price of $395.47, for a total transaction of $10,502,496.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Heidi B. Capozzi sold 2,916 shares of Boeing stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 72,247 shares of company stock worth $28,922,977. 0.23% of the stock is owned by company insiders.
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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.
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