Comerica Bank cut its stake in Boeing Company (The) (NYSE:BA) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,476 shares of the aircraft producer’s stock after selling 16,803 shares during the period. Comerica Bank’s holdings in Boeing Company (The) were worth $35,449,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Cigna Investments Inc. New purchased a new position in shares of Boeing Company (The) during the fourth quarter valued at $3,339,000. CHURCHILL MANAGEMENT Corp raised its position in shares of Boeing Company (The) by 100.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 38,289 shares of the aircraft producer’s stock valued at $6,772,000 after buying an additional 19,213 shares during the period. GLG LLC bought a new position in Boeing Company (The) during the fourth quarter worth approximately $4,988,000. American National Bank raised its position in Boeing Company (The) by 30.6% in the first quarter. American National Bank now owns 28,410 shares of the aircraft producer’s stock worth $5,025,000 after buying an additional 6,661 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Boeing Company (The) during the fourth quarter valued at about $8,027,000. 73.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Boeing Company (NYSE:BA) opened at 233.45 on Thursday. The firm has a market capitalization of $140.91 billion, a P/E ratio of 28.76 and a beta of 1.12. The stock’s 50 day moving average is $201.99 and its 200 day moving average is $182.61. Boeing Company has a 1-year low of $126.31 and a 1-year high of $233.98.
Boeing Company (The) (NYSE:BA) last issued its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.23. Boeing Company (The) had a net margin of 5.52% and a return on equity of 495.68%. The business had revenue of $22.74 billion during the quarter, compared to analysts’ expectations of $22.97 billion. During the same quarter in the prior year, the business posted ($0.44) EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities analysts predict that Boeing Company will post $9.40 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 9th. Boeing Company (The)’s payout ratio is 69.61%.
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A number of equities research analysts have weighed in on BA shares. Zacks Investment Research upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research report on Tuesday, July 11th. Gabelli reiterated a “buy” rating on shares of Boeing Company (The) in a report on Friday, April 7th. Deutsche Bank AG raised their target price on Boeing Company (The) from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Berenberg Bank set a $245.00 target price on Boeing Company (The) and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Boeing Company (The) in a research report on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $199.08.
In other Boeing Company (The) news, SVP Bertrand Marc Allen sold 15,470 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $183.62, for a total transaction of $2,840,601.40. Following the completion of the transaction, the senior vice president now owns 43,801 shares in the company, valued at approximately $8,042,739.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leanne G. Caret sold 2,400 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $182.73, for a total transaction of $438,552.00. Following the completion of the transaction, the executive vice president now owns 44,710 shares of the company’s stock, valued at approximately $8,169,858.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,403 shares of company stock valued at $11,666,138. Company insiders own 0.28% of the company’s stock.
About Boeing Company (The)
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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