Employers Holdings Inc. Purchases New Position in Boeing Co (NYSE:BA)

Employers Holdings Inc. purchased a new stake in shares of Boeing Co (NYSE:BA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,900 shares of the aircraft producer’s stock, valued at approximately $1,420,000.

A number of other hedge funds have also recently made changes to their positions in the stock. NuWave Investment Management LLC raised its stake in shares of Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of 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 buying an additional 41 shares during the last quarter. Guidant Wealth Advisors bought a new stake in shares of Boeing during the second quarter worth approximately $28,000. Next Capital Management LLC bought a new stake in shares of Boeing during the fourth quarter worth approximately $32,000. Finally, Clarfeld Financial Advisors LLC bought a new stake in shares of Boeing during the fourth quarter worth approximately $40,000. 68.65% of the stock is owned by hedge funds and other institutional investors.

BA has been the subject of a number of recent research reports. Wolfe Research downgraded shares of Boeing from an “outperform” rating to a “peer perform” rating and dropped their price target for the stock from $404.00 to $393.00 in a research note on Thursday, July 25th. Credit Suisse Group reissued a “buy” rating and set a $425.00 price target on shares of Boeing in a research note on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $480.00 price target (down from $500.00) on shares of Boeing in a research note on Wednesday, July 10th. Buckingham Research boosted their price objective on shares of Boeing from $370.00 to $395.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Cowen set a $460.00 price objective on shares of Boeing and gave the company a “buy” rating in a report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $403.10.

Shares of Boeing stock traded down $0.92 on Friday, hitting $327.08. The company had a trading volume of 27,325 shares, compared to its average volume of 4,960,387. The firm has a market capitalization of $187.30 billion, a P/E ratio of 20.44, a P/E/G ratio of 10.14 and a beta of 1.27. Boeing Co has a twelve month low of $292.47 and a twelve month high of $446.01. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.03 and a quick ratio of 0.29. The stock has a 50-day moving average of $351.59 and a 200-day moving average of $372.84.

Boeing (NYSE:BA) last released 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 analysts’ expectations of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The business’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.33 earnings per share. Equities analysts predict that Boeing Co will post 3.98 EPS for the current year.

The business 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 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

About Boeing

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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