Regal Wealth Group Inc. reduced its stake in Boeing Co (NYSE:BA) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,603 shares of the aircraft producer’s stock after selling 1,968 shares during the quarter. Boeing comprises approximately 5.4% of Regal Wealth Group Inc.’s holdings, making the stock its 7th largest position. Regal Wealth Group Inc.’s holdings in Boeing were worth $7,271,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of BA. Clear Perspective Advisors LLC raised its holdings in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after acquiring an additional 135 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings in Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after acquiring an additional 84 shares during the last quarter. CWH Capital Management Inc. purchased a new position in Boeing in the 2nd quarter worth approximately $134,000. Catamount Wealth Management purchased a new position in Boeing in the 2nd quarter worth approximately $138,000. Finally, Herndon Capital Management LLC raised its holdings in Boeing by 29.7% in the 2nd quarter. Herndon Capital Management LLC now owns 720 shares of the aircraft producer’s stock worth $142,000 after acquiring an additional 165 shares during the last quarter. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boeing Co (NYSE BA) opened at $293.94 on Monday. Boeing Co has a 1 year low of $153.14 and a 1 year high of $297.37. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18. The stock has a market cap of $175,040.97, a price-to-earnings ratio of 30.14, a PEG ratio of 2.24 and a beta of 1.24.
Boeing announced that its Board of Directors has initiated a share repurchase plan on Monday, December 11th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.33%. Boeing’s payout ratio is presently 52.21%.
A number of equities analysts recently weighed in on BA shares. Canaccord Genuity boosted their price objective on shares of Boeing from $245.00 to $250.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. J P Morgan Chase & Co set a $325.00 price objective on shares of Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Vetr lowered shares of Boeing from a “hold” rating to a “sell” rating and set a $253.54 price objective for the company. in a report on Thursday, October 12th. Jefferies Group boosted their price objective on shares of Boeing from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, September 22nd. Finally, Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and set a $271.00 price objective for the company in a report on Tuesday, August 22nd. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Boeing presently has an average rating of “Buy” and an average price target of $266.73.
Boeing 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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