Parkside Investments LLC bought a new position in shares of Boeing Co (NYSE:BA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the aircraft producer’s stock, valued at approximately $728,000.
Several other institutional investors have also recently added to or reduced their stakes in BA. NuWave Investment Management LLC raised its position in Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 61 shares in the last quarter. Nordea Investment Management AB raised its position in Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after acquiring an additional 41 shares in the last quarter. Guidant Wealth Advisors purchased a new position in Boeing during the second quarter valued at approximately $28,000. Next Capital Management LLC purchased a new position in Boeing during the fourth quarter valued at approximately $32,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in Boeing during the fourth quarter valued at approximately $40,000. 68.65% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on BA shares. Zacks Investment Research upgraded Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price target for the company in a research report on Monday, June 10th. Jefferies Financial Group cut their price objective on Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Morgan Stanley set a $500.00 price objective on Boeing and gave the company a “buy” rating in a research report on Friday, July 19th. Bank of America set a $420.00 price objective on Boeing and gave the company a “hold” rating in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. cut their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $403.10.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.05 billion. During the same quarter in the prior year, the company posted $3.33 EPS. The company’s quarterly revenue was down 35.1% on a year-over-year basis. Equities research analysts forecast that Boeing Co will post 3.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be paid a $2.055 dividend. This represents a $8.22 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.
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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