Hexavest Inc. boosted its position in shares of Boeing Co (NYSE:BA) by 142.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,582 shares of the aircraft producer’s stock after purchasing an additional 113,858 shares during the period. Hexavest Inc.’s holdings in Boeing were worth $63,061,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. 1 North Wealth Services LLC acquired a new position in Boeing during the 3rd quarter worth approximately $32,000. Atwater Malick LLC purchased a new position in Boeing during the 3rd quarter worth $39,000. Transamerica Financial Advisors Inc. purchased a new position in Boeing during the 2nd quarter worth $40,000. Veritas Investment Management LLP purchased a new position in Boeing during the 3rd quarter worth $40,000. Finally, Selective Wealth Management Inc. purchased a new position in shares of Boeing in the 3rd quarter valued at about $44,000. 68.42% of the stock is currently owned by institutional investors.
BA has been the topic of several analyst reports. Longbow Research initiated coverage on shares of Boeing in a research note on Tuesday, January 7th. They set an “underperform” rating and a $300.00 price target on the stock. Goldman Sachs Group reissued a “neutral” rating and issued a $324.00 target price on shares of Boeing in a research report on Monday, December 9th. Credit Suisse Group reissued a “neutral” rating and issued a $324.00 target price on shares of Boeing in a research report on Wednesday, January 8th. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Cowen cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $419.00 to $371.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. Boeing currently has a consensus rating of “Hold” and an average price target of $362.88.
Shares of NYSE BA traded up $0.94 during trading hours on Thursday, hitting $330.74. The stock had a trading volume of 1,321,173 shares, compared to its average volume of 5,691,366. Boeing Co has a 52 week low of $319.55 and a 52 week high of $446.01. The firm’s 50-day moving average price is $339.54 and its two-hundred day moving average price is $354.15. The company has a market capitalization of $187.04 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.68 and a beta of 1.19.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.59). Boeing had a negative return on equity of 367.68% and a net margin of 4.37%. The business had revenue of $19.98 billion during the quarter, compared to analysts’ expectations of $20 billion. During the same quarter last year, the business posted $3.58 EPS. The company’s quarterly revenue was down 20.5% on a year-over-year basis. Equities research analysts anticipate that Boeing Co will post 0.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.055 per share. The ex-dividend date is Thursday, February 13th. This represents a $8.22 annualized dividend and a dividend yield of 2.49%. Boeing’s payout ratio is 51.34%.
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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