Wetherby Asset Management Inc. raised its stake in Boeing Co (NYSE:BA) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,508 shares of the aircraft producer’s stock after buying an additional 409 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Boeing were worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in BA. Dakota Wealth Management raised its position in shares of Boeing by 208.4% during the third quarter. Dakota Wealth Management now owns 10,250 shares of the aircraft producer’s stock worth $3,812,000 after purchasing an additional 6,926 shares during the period. KCM Investment Advisors LLC raised its position in Boeing by 22.7% in the 3rd quarter. KCM Investment Advisors LLC now owns 35,662 shares of the aircraft producer’s stock valued at $13,263,000 after buying an additional 6,605 shares during the last quarter. Destination Wealth Management raised its position in Boeing by 33.3% in the 3rd quarter. Destination Wealth Management now owns 7,723 shares of the aircraft producer’s stock valued at $2,872,000 after buying an additional 1,931 shares during the last quarter. Edgestream Partners L.P. raised its position in Boeing by 384.9% in the 3rd quarter. Edgestream Partners L.P. now owns 15,385 shares of the aircraft producer’s stock valued at $5,722,000 after buying an additional 12,212 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Boeing by 38.8% in the 3rd quarter. Toronto Dominion Bank now owns 566,314 shares of the aircraft producer’s stock valued at $210,582,000 after buying an additional 158,281 shares during the last quarter. 69.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. Jefferies Financial Group set a $420.00 target price on Boeing and gave the company a “buy” rating in a research report on Tuesday, November 13th. Argus reissued a “fair value” rating and issued a $395.00 target price on shares of Boeing in a research report on Thursday, October 25th. Cowen reissued a “buy” rating and issued a $445.00 target price on shares of Boeing in a research report on Tuesday. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Finally, Canaccord Genuity restated a “hold” rating and issued a $360.00 price target (up from $350.00) on shares of Boeing in a research note on Thursday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $410.21.
NYSE:BA opened at $313.05 on Friday. The company has a market cap of $181.47 billion, a P/E ratio of 26.00, a PEG ratio of 1.59 and a beta of 1.30. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 8.07. Boeing Co has a 1-year low of $293.01 and a 1-year high of $394.28.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $0.11. The business had revenue of $25.15 billion during the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $2.72 EPS. As a group, equities research analysts forecast that Boeing Co will post 15.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be issued a dividend of $2.055 per share. This is a boost from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 annualized dividend and a yield of 2.63%. The ex-dividend date is Thursday, February 7th. Boeing’s dividend payout ratio (DPR) is presently 56.81%.
Boeing declared that its Board of Directors has authorized a stock buyback plan on Monday, December 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Boeing news, SVP Diana L. Sands sold 5,000 shares of Boeing stock in a transaction on Monday, October 29th. The stock was sold at an average price of $350.07, for a total value of $1,750,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jenette E. Ramos sold 1,640 shares of Boeing stock in a transaction on Friday, November 9th. The shares were sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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