Mathes Company Inc. trimmed its position in shares of Boeing Co (NYSE:BA) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,501 shares of the aircraft producer’s stock after selling 385 shares during the period. Boeing comprises 3.1% of Mathes Company Inc.’s holdings, making the stock its 3rd biggest holding. Mathes Company Inc.’s holdings in Boeing were worth $6,483,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Clear Perspective Advisors LLC grew its stake 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 in the last quarter. CWH Capital Management Inc. bought a new position in Boeing in the 2nd quarter worth about $134,000. Catamount Wealth Management bought a new position in Boeing in the 2nd quarter worth about $138,000. Herndon Capital Management LLC boosted its stake in shares of Boeing by 29.7% during the second 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 in the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in shares of Boeing by 14.3% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the aircraft producer’s stock valued at $158,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.84% of the company’s stock.
A number of equities analysts have recently issued reports on BA shares. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective on the stock in a research note on Tuesday, January 2nd. Canaccord Genuity increased their price objective on shares of Boeing from $245.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. set a $325.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $253.54 price objective on the stock. in a research note on Thursday, October 12th. Finally, Jefferies Group increased their price objective on shares of Boeing from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Hold” and a consensus price target of $280.74.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The company had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same quarter in the prior year, the company posted $3.51 earnings per share. Boeing’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts anticipate that Boeing Co will post 10.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $1.71 per share. This is a boost 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 yield of 2.03%. Boeing’s dividend payout ratio is presently 52.25%.
Boeing declared that its board has initiated a share buyback program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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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