Community Financial Services Group LLC grew its position in Boeing Co (NYSE:BA) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,911 shares of the aircraft producer’s stock after purchasing an additional 920 shares during the quarter. Boeing comprises approximately 2.5% of Community Financial Services Group LLC’s investment portfolio, making the stock its 13th biggest position. Community Financial Services Group LLC’s holdings in Boeing were worth $8,717,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC grew its position in Boeing by 36,928.2% during the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock worth $623,555,000 after buying an additional 6,218,711 shares in the last quarter. Nuveen Asset Management LLC grew its position in Boeing by 1,774.6% during the second quarter. Nuveen Asset Management LLC now owns 4,149,922 shares of the aircraft producer’s stock worth $1,510,613,000 after buying an additional 3,928,546 shares in the last quarter. Viking Global Investors LP acquired a new stake in Boeing during the second quarter worth approximately $1,010,899,000. Price T Rowe Associates Inc. MD grew its position in Boeing by 7.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock worth $13,009,918,000 after buying an additional 2,607,364 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in Boeing during the second quarter worth approximately $303,860,000. 67.91% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on BA shares. JPMorgan Chase & Co. reduced their price target on Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Credit Suisse Group downgraded Boeing from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $416.00 to $323.00 in a research report on Monday. Buckingham Research set a $395.00 price target on Boeing and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Canaccord Genuity reduced their price target on Boeing from $380.00 to $370.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, UBS Group raised Boeing from a “neutral” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Boeing presently has a consensus rating of “Hold” and a consensus price target of $384.01.
Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $20 billion. During the same quarter in the previous year, the company earned $3.58 earnings per share. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis. As a group, sell-side analysts expect that Boeing Co will post 3.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 7th. Boeing’s payout ratio is presently 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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