RB Capital Management LLC increased its stake in shares of Boeing Co (NYSE:BA) by 64.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,087 shares of the aircraft producer’s stock after purchasing an additional 817 shares during the quarter. RB Capital Management LLC’s holdings in Boeing were worth $760,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Boeing by 26.5% during the 1st quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock worth $4,211,577,000 after purchasing an additional 2,311,630 shares during the last quarter. Geode Capital Management LLC raised its stake in Boeing by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock valued at $2,015,856,000 after acquiring an additional 214,945 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in Boeing by 36,928.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock valued at $623,555,000 after acquiring an additional 6,218,711 shares during the last quarter. Janus Henderson Group PLC raised its stake in Boeing by 0.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,575,193 shares of the aircraft producer’s stock valued at $2,029,440,000 after acquiring an additional 21,663 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in Boeing by 5.2% during the 2nd quarter. TD Asset Management Inc. now owns 1,301,381 shares of the aircraft producer’s stock valued at $473,715,000 after acquiring an additional 64,440 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.
BA has been the subject of several analyst reports. Zacks Investment Research raised Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price objective for the company in a research note on Monday, June 10th. Buckingham Research upped their price objective on Boeing from $370.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Canaccord Genuity set a $380.00 price objective on Boeing and gave the company a “hold” rating in a research note on Friday, July 19th. Wolfe Research downgraded Boeing from an “outperform” rating to a “peer perform” rating and reduced their price objective for the company from $404.00 to $393.00 in a research note on Thursday, July 25th. Finally, ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $403.10.
Shares of BA stock traded up $1.60 during trading hours on Friday, reaching $356.01. 10,943,537 shares of the company’s stock were exchanged, compared to its average volume of 4,300,527. The company has a market cap of $199.43 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 10.49 and a beta of 1.27. The company’s 50 day moving average is $348.22 and its two-hundred day moving average is $371.20. Boeing Co has a 1 year low of $292.47 and a 1 year 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.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The company’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 EPS. As a group, analysts predict that Boeing Co will post 4.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be issued a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio is currently 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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