BlackRock Inc. grew its holdings in Boeing Co (NYSE:BA) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,081,637 shares of the aircraft producer’s stock after acquiring an additional 264,410 shares during the quarter. BlackRock Inc. owned 6.06% of Boeing worth $12,406,056,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Claraphi Advisory Network LLC grew its stake in Boeing by 3.6% in the second quarter. Claraphi Advisory Network LLC now owns 2,943 shares of the aircraft producer’s stock valued at $1,071,000 after purchasing an additional 103 shares in the last quarter. Dupont Capital Management Corp grew its stake in Boeing by 0.3% in the second quarter. Dupont Capital Management Corp now owns 45,420 shares of the aircraft producer’s stock valued at $16,533,000 after purchasing an additional 125 shares in the last quarter. Corrado Advisors LLC grew its stake in Boeing by 4.1% in the second quarter. Corrado Advisors LLC now owns 7,901 shares of the aircraft producer’s stock valued at $2,876,000 after purchasing an additional 310 shares in the last quarter. Greenleaf Trust grew its stake in Boeing by 6.3% in the second quarter. Greenleaf Trust now owns 5,782 shares of the aircraft producer’s stock valued at $2,105,000 after purchasing an additional 342 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its position in shares of Boeing by 167.1% in the second quarter. NEXT Financial Group Inc now owns 4,909 shares of the aircraft producer’s stock valued at $1,787,000 after buying an additional 3,071 shares during the last quarter. Institutional investors own 67.98% of the company’s stock.
BA has been the subject of a number of recent analyst reports. Canaccord Genuity set a $380.00 price objective on Boeing and gave the company a “hold” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Cowen set a $460.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday. Bank of America set a $420.00 price objective on Boeing and gave the company a “hold” rating in a research report on Thursday, June 27th. Finally, Jefferies Financial Group cut their price objective on Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $402.65.
NYSE:BA opened at $375.63 on Friday. The stock has a market cap of $207.92 billion, a P/E ratio of 23.46, a PEG ratio of 10.93 and a beta of 1.25. The stock has a 50 day simple moving average of $347.54 and a 200 day simple moving average of $366.44. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. Boeing Co has a 1-year low of $292.47 and a 1-year high of $446.01.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The firm’s revenue for the quarter was down 35.1% compared to the same quarter last year. During the same period last year, the firm posted $3.33 EPS. As a group, sell-side analysts forecast that Boeing Co will post 4.09 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 9th were issued a dividend of $2.055 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $8.22 annualized dividend and a yield of 2.19%. Boeing’s payout ratio is currently 51.34%.
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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