Iberiabank Corp lifted its stake in Boeing Co (NYSE:BA) by 35.0% in the third quarter, HoldingsChannel.com reports. The fund owned 1,742 shares of the aircraft producer’s stock after purchasing an additional 452 shares during the period. Iberiabank Corp’s holdings in Boeing were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Summit Trail Advisors LLC boosted its holdings in shares of Boeing by 33,457.1% in the first quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock worth $3,701,000 after buying an additional 3,689,648 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of Boeing by 33,433.9% in the second quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock worth $7,169,000 after buying an additional 2,402,561 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Boeing by 23.3% in the second quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock worth $1,989,009,000 after buying an additional 1,121,675 shares during the last quarter. FMR LLC boosted its holdings in shares of Boeing by 16.0% in the second quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock worth $2,488,029,000 after buying an additional 1,023,959 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Boeing in the second quarter worth approximately $328,421,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.
In other Boeing news, SVP Diana L. Sands sold 5,000 shares of Boeing stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by insiders.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.11. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The business had revenue of $25.15 billion for the quarter, compared to the consensus estimate of $23.84 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict 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. Shareholders of record on Friday, November 9th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, November 8th. Boeing’s dividend payout ratio is currently 56.81%.
A number of equities analysts recently issued reports on BA shares. Credit Suisse Group reissued a “buy” rating and issued a $455.00 price objective on shares of Boeing in a report on Thursday, July 26th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $400.00 price objective on shares of Boeing in a report on Thursday, July 26th. Berenberg Bank reissued a “buy” rating and issued a $430.00 price objective on shares of Boeing in a report on Monday, September 3rd. UBS Group started coverage on shares of Boeing in a report on Wednesday, August 15th. They issued a “buy” rating and a $515.00 price objective on the stock. Finally, Robert W. Baird reissued a “buy” rating and issued a $450.00 price objective on shares of Boeing in a report on Monday, August 13th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Boeing currently has a consensus rating of “Buy” and an average target price of $410.21.
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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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