Douglas Lane & Associates LLC decreased its position in shares of Boeing Company (The) (NYSE:BA) by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,148 shares of the aircraft producer’s stock after selling 400 shares during the period. Douglas Lane & Associates LLC’s holdings in Boeing Company (The) were worth $622,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Boeing Company (The) by 66.5% in the first quarter. AQR Capital Management LLC now owns 2,627,684 shares of the aircraft producer’s stock valued at $464,732,000 after buying an additional 1,049,546 shares in the last quarter. Bank of Montreal Can raised its stake in Boeing Company (The) by 30.6% in the first quarter. Bank of Montreal Can now owns 2,968,297 shares of the aircraft producer’s stock valued at $524,974,000 after buying an additional 694,658 shares in the last quarter. Swiss National Bank raised its stake in Boeing Company (The) by 25.2% in the first quarter. Swiss National Bank now owns 2,077,391 shares of the aircraft producer’s stock valued at $367,407,000 after buying an additional 418,500 shares in the last quarter. Bank of Nova Scotia raised its stake in Boeing Company (The) by 181.0% in the first quarter. Bank of Nova Scotia now owns 609,760 shares of the aircraft producer’s stock valued at $107,843,000 after buying an additional 392,786 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Boeing Company (The) by 11.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,943,099 shares of the aircraft producer’s stock valued at $520,517,000 after buying an additional 308,976 shares in the last quarter. 74.44% of the stock is owned by hedge funds and other institutional investors.
Boeing Company (NYSE BA) traded down 0.66% during midday trading on Wednesday, reaching $237.59. The company’s stock had a trading volume of 3,012,660 shares. Boeing Company has a 52 week low of $126.31 and a 52 week high of $246.49. The firm has a 50 day moving average price of $220.37 and a 200-day moving average price of $190.81. The firm has a market cap of $140.44 billion, a P/E ratio of 20.82 and a beta of 1.16.
Boeing Company (The) (NYSE:BA) last released its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 EPS for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.23. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The business had revenue of $22.74 billion during the quarter, compared to analysts’ expectations of $22.97 billion. During the same quarter in the previous year, the company earned ($0.44) EPS. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, analysts forecast that Boeing Company will post $9.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.39%. Boeing Company (The)’s dividend payout ratio (DPR) is 49.74%.
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Several equities research analysts have recently weighed in on BA shares. Canaccord Genuity reissued a “hold” rating and set a $215.00 price objective (up from $200.00) on shares of Boeing Company (The) in a research note on Sunday, July 30th. Argus restated a “buy” rating and issued a $270.00 target price on shares of Boeing Company (The) in a report on Tuesday, August 1st. Buckingham Research upgraded Boeing Company (The) from an “underperform” rating to a “neutral” rating in a report on Friday, July 28th. Vetr upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $253.33 target price for the company in a report on Monday, August 7th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Boeing Company (The) in a report on Monday, July 10th. Two equities 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 company’s stock. The company has an average rating of “Hold” and an average price target of $228.87.
In other news, SVP Robert E. Verbeck sold 2,522 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $244.45, for a total value of $616,502.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas J. Downey sold 134 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $241.20, for a total transaction of $32,320.80. The disclosure for this sale can be found here. Insiders sold a total of 83,468 shares of company stock valued at $20,353,814 in the last ninety days. 0.28% of the stock is owned by corporate 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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