Meeder Asset Management Inc. reduced its position in shares of Boeing Co (NYSE:BA) by 88.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,298 shares of the aircraft producer’s stock after selling 33,341 shares during the period. Meeder Asset Management Inc.’s holdings in Boeing were worth $1,386,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. increased its holdings in Boeing by 159.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 140 shares of the aircraft producer’s stock valued at $45,000 after purchasing an additional 86 shares during the period. CX Institutional acquired a new stake in Boeing in the fourth quarter valued at $74,000. Stuart Chaussee & Associates Inc. increased its holdings in Boeing by 412.1% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 297 shares of the aircraft producer’s stock valued at $96,000 after purchasing an additional 239 shares during the period. CSat Investment Advisory L.P. acquired a new stake in Boeing in the second quarter valued at $101,000. Finally, Interactive Financial Advisors acquired a new stake in Boeing in the third quarter valued at $112,000. Institutional investors and hedge funds own 76.86% of the company’s stock.
BA opened at $403.95 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 25.99. Boeing Co has a fifty-two week low of $292.47 and a fifty-two week high of $413.88. The stock has a market capitalization of $229.94 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.96. The company had revenue of $28.34 billion for the quarter, compared to analyst estimates of $26.76 billion. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. Equities analysts forecast that Boeing Co will post 20.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be paid a $2.055 dividend. This is a positive change from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date is Thursday, February 7th. This represents a $8.22 annualized dividend and a yield of 2.03%. Boeing’s dividend payout ratio (DPR) is 51.34%.
Boeing announced that its board has approved a stock buyback plan on Monday, December 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the aircraft producer to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of research firms recently weighed in on BA. JPMorgan Chase & Co. increased their price objective on Boeing to $450.00 and gave the company an “overweight” rating in a report on Monday. Sanford C. Bernstein restated an “outperform” rating and issued a $459.00 price objective (up from $435.00) on shares of Boeing in a report on Tuesday, February 5th. Credit Suisse Group restated an “outperform” rating and issued a $440.00 price objective (up from $434.00) on shares of Boeing in a report on Thursday, January 31st. Robert W. Baird restated an “outperform” rating and issued a $470.00 price objective on shares of Boeing in a report on Thursday, January 31st. Finally, Jefferies Financial Group upped their price target on shares of Boeing to $448.00 and gave the company a “buy” rating in a research report on Monday, February 4th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Boeing presently has a consensus rating of “Buy” and an average target price of $413.27.
In other Boeing news, EVP Timothy John Keating sold 26,557 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.
Boeing Company Profile
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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