Karp Capital Management Corp bought a new position in shares of Boeing Company (The) (NYSE:BA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 245,030 shares of the aircraft producer’s stock, valued at approximately $43,336,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. acquired a new position in Boeing Company (The) during the fourth quarter valued at approximately $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 valued at $126,000 after buying an additional 62 shares during the period. 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 valued at $159,000 after buying an additional 302 shares during the period. Pinnacle Bank acquired a new position in Boeing Company (The) during the first quarter valued at approximately $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 valued at $162,000 after buying an additional 350 shares during the period. 74.47% of the stock is owned by hedge funds and other institutional investors.
Boeing Company (BA) opened at 234.88 on Friday. The stock’s 50 day moving average is $217.15 and its 200 day moving average is $189.10. Boeing Company has a 12-month low of $126.31 and a 12-month high of $246.49. The stock has a market capitalization of $138.83 billion, a PE ratio of 20.58 and a beta of 1.16.
Boeing Company (The) (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.23. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The business had revenue of $22.74 billion during the quarter, compared to analysts’ expectations of $22.97 billion. During the same quarter last year, the business posted ($0.44) earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities analysts anticipate that Boeing Company will post $9.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, August 9th. Boeing Company (The)’s dividend payout ratio is currently 49.74%.
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Several research analysts recently commented on BA shares. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $134.00 price objective on shares of Boeing Company (The) in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of Boeing Company (The) from a “hold” rating to a “buy” rating and set a $228.00 target price on the stock in a research note on Tuesday, July 11th. Barclays PLC increased their target price on shares of Boeing Company (The) from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, May 22nd. Canaccord Genuity increased their target price on shares of Boeing Company (The) from $162.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, April 18th. Finally, Deutsche Bank AG increased their target price on shares of Boeing Company (The) from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. Boeing Company (The) currently has a consensus rating of “Hold” and a consensus price target of $228.31.
In other news, CFO Gregory D. Smith sold 19,757 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $245.42, for a total value of $4,848,762.94. Following the completion of the transaction, the chief financial officer now owns 152,195 shares in the company, valued at $37,351,696.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Dennis A. Muilenburg sold 56,838 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $243.46, for a total value of $13,837,779.48. Following the completion of the transaction, the chairman now owns 127,778 shares of the company’s stock, valued at approximately $31,108,831.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,468 shares of company stock valued at $20,353,814. Company insiders own 0.28% of the company’s stock.
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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