Crossmark Global Holdings Inc. reduced its position in Boeing Co (NYSE:BA) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,029 shares of the aircraft producer’s stock after selling 1,473 shares during the period. Crossmark Global Holdings Inc.’s holdings in Boeing were worth $18,392,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in BA. Ironwood Financial llc acquired a new stake in shares of Boeing during the fourth quarter worth approximately $32,000. Proffitt & Goodson Inc. boosted its holdings in shares of Boeing by 1,371.4% during the fourth quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock worth $33,000 after purchasing an additional 96 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Boeing by 159.3% during the fourth quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock worth $45,000 after purchasing an additional 86 shares during the period. CX Institutional acquired a new stake in shares of Boeing during the fourth quarter worth approximately $74,000. Finally, Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Boeing by 33.1% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 237 shares of the aircraft producer’s stock worth $76,000 after purchasing an additional 59 shares during the period. 69.68% of the stock is currently owned by institutional investors and hedge funds.
NYSE BA opened at $377.14 on Thursday. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 25.99. The company has a market capitalization of $238.73 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $26.76 billion. During the same period in the previous year, the company earned $3.04 earnings per share. The company’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that Boeing Co will post 20.13 EPS for the current fiscal year.
Boeing announced that its Board of Directors has authorized a share buyback program on Monday, December 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 8th were paid a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date was Thursday, February 7th. Boeing’s payout ratio is presently 51.34%.
In other news, SVP Theodore Colbert III sold 2,137 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $408.85, for a total value of $873,712.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy John Keating sold 26,557 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $395.47, for a total transaction of $10,502,496.79. The disclosure for this sale can be found here. Insiders sold 72,247 shares of company stock valued at $28,922,977 over the last 90 days. 0.24% of the stock is owned by corporate insiders.
BA has been the subject of several research reports. Morgan Stanley upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $400.00 to $450.00 in a report on Wednesday, January 9th. JPMorgan Chase & Co. restated a “buy” rating and set a price target on shares of Boeing in a report on Wednesday, January 30th. Jefferies Financial Group raised their price target on shares of Boeing to $448.00 and gave the stock a “buy” rating in a report on Monday, February 4th. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Finally, Tigress Financial restated a “buy” rating on shares of Boeing in a report on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $409.94.
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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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