TCG Advisors LP lowered its position in Boeing Co (NYSE:BA) by 28.6% during the 2nd quarter, Holdings Channel reports. The fund owned 155 shares of the aircraft producer’s stock after selling 62 shares during the period. TCG Advisors LP’s holdings in Boeing were worth $55,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its stake in shares of Boeing by 1.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,851 shares of the aircraft producer’s stock worth $919,000 after purchasing an additional 29 shares during the period. Cardan Capital Partners LLC lifted its stake in Boeing by 1.9% in the first quarter. Cardan Capital Partners LLC now owns 1,607 shares of the aircraft producer’s stock valued at $613,000 after purchasing an additional 30 shares during the last quarter. Apriem Advisors grew its holdings in Boeing by 1.3% during the fourth quarter. Apriem Advisors now owns 2,459 shares of the aircraft producer’s stock valued at $793,000 after purchasing an additional 31 shares during the period. CFO4Life Group LLC increased its position in Boeing by 5.2% in the second quarter. CFO4Life Group LLC now owns 627 shares of the aircraft producer’s stock worth $228,000 after buying an additional 31 shares during the last quarter. Finally, Northwest Bancshares Inc. raised its stake in shares of Boeing by 1.8% in the second quarter. Northwest Bancshares Inc. now owns 1,871 shares of the aircraft producer’s stock valued at $681,000 after buying an additional 33 shares during the period. 67.98% of the stock is owned by hedge funds and other institutional investors.
BA has been the subject of several recent research reports. Cowen set a $460.00 price objective on Boeing and gave the stock a “buy” rating in a report on Friday, July 19th. Buckingham Research set a $395.00 target price on shares of Boeing and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. UBS Group set a $470.00 target price on shares of Boeing and gave the stock a “buy” rating in a research note on Monday. Berenberg Bank reissued a “buy” rating and issued a $400.00 price target on shares of Boeing in a research report on Tuesday, August 6th. Finally, Credit Suisse Group restated a “buy” rating and set a $425.00 price target on shares of Boeing in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. Boeing has a consensus rating of “Hold” and a consensus price target of $402.65.
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 consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the prior year, the firm posted $3.33 earnings per share. The business’s quarterly revenue was down 35.1% on a year-over-year basis. Analysts anticipate that Boeing Co will post 4.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 9th were paid a $2.055 dividend. The ex-dividend date was Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a yield of 2.15%. Boeing’s dividend 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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