Pinebridge Investments L.P. cut its holdings in Boeing Company (The) (NYSE:BA) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,844 shares of the aircraft producer’s stock after selling 5,057 shares during the period. Pinebridge Investments L.P.’s holdings in Boeing were worth $23,304,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its position in shares of Boeing by 181.9% during the 1st quarter. Proficio Capital Partners LLC now owns 623 shares of the aircraft producer’s stock valued at $115,000 after purchasing an additional 402 shares during the period. Vantage Investment Advisors LLC raised its position in shares of Boeing by 11.1% during the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after purchasing an additional 84 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Boeing by 16.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 742 shares of the aircraft producer’s stock valued at $131,000 after purchasing an additional 107 shares during the period. Catamount Wealth Management bought a new stake in shares of Boeing during the 2nd quarter valued at $138,000. Finally, Herndon Capital Management LLC raised its position in shares of Boeing by 29.7% during the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock valued at $142,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Cowen restated a “buy” rating and set a $315.00 price objective on shares of Boeing in a research report on Thursday, October 26th. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Nord/LB set a $250.00 price objective on shares of Boeing and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Finally, Sanford C. Bernstein raised their price objective on shares of Boeing from $303.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $257.81.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same period last year, the company posted $3.51 EPS. The business’s revenue was up 1.7% on a year-over-year basis. equities research analysts predict that Boeing Company will post 10.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.06%. Boeing’s payout ratio is currently 52.21%.
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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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