Public Employees Retirement System of Ohio lessened its stake in Boeing Co (NYSE:BA) by 32.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 388,104 shares of the aircraft producer’s stock after selling 183,654 shares during the period. Boeing accounts for about 0.7% of Public Employees Retirement System of Ohio’s holdings, making the stock its 24th biggest position. Public Employees Retirement System of Ohio owned approximately 0.07% of Boeing worth $130,213,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Kessler Investment Group LLC acquired a new position in Boeing in the 2nd quarter valued at about $1,726,000. Cumberland Partners Ltd acquired a new position in Boeing in the 2nd quarter valued at about $4,075,000. Truewealth LLC increased its position in Boeing by 17.7% in the 2nd quarter. Truewealth LLC now owns 1,624 shares of the aircraft producer’s stock valued at $545,000 after acquiring an additional 244 shares during the period. State of New Jersey Common Pension Fund D increased its position in Boeing by 116.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 325,000 shares of the aircraft producer’s stock valued at $109,041,000 after acquiring an additional 175,000 shares during the period. Finally, Mckinley Capital Management LLC Delaware increased its position in Boeing by 163.3% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 19,877 shares of the aircraft producer’s stock valued at $6,669,000 after acquiring an additional 12,327 shares during the period. Hedge funds and other institutional investors own 69.56% of the company’s stock.
BA has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on Boeing to $410.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Berenberg Bank reaffirmed a “buy” rating and issued a $430.00 price objective on shares of Boeing in a report on Monday, September 3rd. Morgan Stanley set a $400.00 price objective on Boeing and gave the company a “hold” rating in a report on Friday, September 28th. Cowen reaffirmed a “buy” rating and issued a $445.00 price objective on shares of Boeing in a report on Monday, October 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Boeing in a report on Monday, August 13th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $410.21.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $0.11. The business had revenue of $25.15 billion for the quarter, compared to analyst estimates of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.72 EPS. Analysts expect that Boeing Co will post 15.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, November 8th. Boeing’s dividend payout ratio (DPR) is 56.81%.
In other news, SVP Diana L. Sands sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.24% of the stock is owned by insiders.
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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