Gabelli Funds LLC decreased its position in shares of Boeing Company (The) (NYSE:BA) by 17.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,300 shares of the aircraft producer’s stock after selling 33,400 shares during the period. Gabelli Funds LLC’s holdings in Boeing Company (The) were worth $28,174,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of BA. Thomas J. Herzfeld Advisors Inc. acquired a new position in Boeing Company (The) during the fourth quarter worth $109,000. MCF Advisors LLC increased its position in Boeing Company (The) by 9.5% in the first quarter. MCF Advisors LLC now owns 712 shares of the aircraft producer’s stock worth $126,000 after buying an additional 62 shares in the last quarter. Gemmer Asset Management LLC increased its position in Boeing Company (The) by 50.6% in the first quarter. Gemmer Asset Management LLC now owns 899 shares of the aircraft producer’s stock worth $159,000 after buying an additional 302 shares in the last quarter. Pinnacle Bank acquired a new position in Boeing Company (The) during the first quarter worth $160,000. Finally, Taylor Wealth Management Partners increased its position in Boeing Company (The) by 61.6% in the first quarter. Taylor Wealth Management Partners now owns 918 shares of the aircraft producer’s stock worth $162,000 after buying an additional 350 shares in the last quarter. 73.02% of the stock is owned by institutional investors.
Shares of Boeing Company (BA) opened at 212.14 on Friday. Boeing Company has a 12 month low of $126.31 and a 12 month high of $212.20. The firm has a market capitalization of $128.04 billion, a price-to-earnings ratio of 26.14 and a beta of 1.12. The stock’s 50 day moving average is $198.65 and its 200 day moving average is $180.89.
Boeing Company (The) (NYSE:BA) last released its quarterly earnings results on Wednesday, April 26th. The aircraft producer reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.10. Boeing Company (The) had a net margin of 5.52% and a return on equity of 495.68%. The business had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.27 billion. During the same period last year, the firm earned $1.74 earnings per share. Boeing Company (The)’s revenue for the quarter was down 7.3% compared to the same quarter last year. Equities research analysts forecast that Boeing Company will post $9.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, August 9th. Boeing Company (The)’s dividend payout ratio is 69.61%.
A number of research firms have recently weighed in on BA. Zacks Investment Research upgraded shares of Boeing Company (The) from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a report on Friday. Cowen and Company restated a “buy” rating and set a $255.00 price target on shares of Boeing Company (The) in a report on Monday, July 17th. Robert W. Baird raised their price target on shares of Boeing Company (The) from $208.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 10th. J P Morgan Chase & Co upgraded shares of Boeing Company (The) from a “neutral” rating to an “overweight” rating and raised their price target for the company from $205.00 to $240.00 in a report on Friday, July 14th. Finally, ValuEngine downgraded shares of Boeing Company (The) from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $187.47.
In related news, EVP J Michael Luttig sold 7,986 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $183.78, for a total transaction of $1,467,667.08. Following the transaction, the executive vice president now directly owns 39,251 shares of the company’s stock, valued at $7,213,548.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy John Keating sold 32,500 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $184.51, for a total transaction of $5,996,575.00. Following the transaction, the senior vice president now directly owns 107,437 shares in the company, valued at $19,823,200.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,403 shares of company stock worth $11,666,138. 0.28% of the stock is owned by insiders.
Boeing Company (The) Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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