Sabal Trust CO lowered its stake in shares of Boeing Co (NYSE:BA) by 24.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,292 shares of the aircraft producer’s stock after selling 36,785 shares during the quarter. Boeing accounts for 2.9% of Sabal Trust CO’s investment portfolio, making the stock its 7th biggest position. Sabal Trust CO’s holdings in Boeing were worth $29,054,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of BA. Janus Henderson Group PLC raised its position in shares of Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Boeing by 18,613.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,342,129 shares of the aircraft producer’s stock valued at $6,787,000 after purchasing an additional 1,334,957 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Boeing by 66.5% during the 1st quarter. AQR Capital Management LLC now owns 2,627,684 shares of the aircraft producer’s stock valued at $464,732,000 after purchasing an additional 1,049,546 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of Boeing by 61,128.7% during the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after purchasing an additional 848,467 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Boeing by 63.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,442,748 shares of the aircraft producer’s stock valued at $285,303,000 after purchasing an additional 561,343 shares during the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.
Several equities analysts recently commented on the stock. Wells Fargo & Co reaffirmed a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of Boeing in a report on Wednesday, September 20th. Zacks Investment Research lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Vetr lowered shares of Boeing from a “sell” rating to a “strong sell” rating and set a $279.35 target price on the stock. in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Boeing from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $303.00 target price (up previously from $274.00) on shares of Boeing in a report on Wednesday, September 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $277.79.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. The business had revenue of $24.31 billion for the quarter, compared to analyst estimates of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.51 EPS. sell-side analysts expect that Boeing Co will post 10.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a dividend of $1.71 per share. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.08%. Boeing’s payout ratio is presently 52.25%.
Boeing announced that its Board of Directors has authorized a share repurchase plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
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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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