Cascade Investment Advisors Inc. increased its position in Boeing Co (NYSE:BA) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the aircraft producer’s stock after purchasing an additional 100 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Boeing were worth $364,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC lifted its stake in Boeing by 26.5% in the 1st quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after acquiring an additional 2,311,630 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Boeing by 3.2% during the 4th quarter. Jennison Associates LLC now owns 7,817,279 shares of the aircraft producer’s stock worth $2,521,073,000 after purchasing an additional 245,100 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Boeing by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock worth $2,015,856,000 after purchasing an additional 214,945 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Boeing by 36,928.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock worth $623,555,000 after purchasing an additional 6,218,711 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Boeing by 6.8% during the 4th quarter. Boston Partners now owns 1,951,632 shares of the aircraft producer’s stock worth $629,401,000 after purchasing an additional 123,895 shares in the last quarter. Hedge funds and other institutional investors own 68.65% of the company’s stock.
BA has been the topic of a number of analyst reports. Credit Suisse Group reiterated a “buy” rating and set a $425.00 price objective on shares of Boeing in a research note on Thursday, July 25th. Goldman Sachs Group reissued a “neutral” rating and set a $375.00 target price on shares of Boeing in a report on Friday, July 12th. Buckingham Research boosted their target price on Boeing from $370.00 to $395.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Morgan Stanley set a $500.00 price objective on Boeing and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Barclays lowered Boeing from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $417.00 to $367.00 in a report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $403.10.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.33 EPS. On average, research analysts predict that Boeing Co will post 3.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be issued a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio (DPR) 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.
Further Reading: Why do companies issue convertible shares?
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.