Retirement Systems of Alabama trimmed its position in shares of Boeing Co (NYSE:BA) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,858 shares of the aircraft producer’s stock after selling 10,813 shares during the period. Boeing makes up about 0.7% of Retirement Systems of Alabama’s holdings, making the stock its 25th largest holding. Retirement Systems of Alabama owned about 0.07% of Boeing worth $147,591,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Hudock Capital Group LLC increased its holdings in Boeing by 3.4% in the second quarter. Hudock Capital Group LLC now owns 4,341 shares of the aircraft producer’s stock valued at $1,456,000 after buying an additional 144 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC increased its holdings in Boeing by 0.5% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 30,349 shares of the aircraft producer’s stock valued at $10,182,000 after buying an additional 146 shares during the last quarter. TNB Financial increased its holdings in Boeing by 1.6% in the second quarter. TNB Financial now owns 9,397 shares of the aircraft producer’s stock valued at $3,153,000 after buying an additional 149 shares during the last quarter. Bourne Lent Asset Management Inc. increased its holdings in Boeing by 9.5% in the second quarter. Bourne Lent Asset Management Inc. now owns 1,728 shares of the aircraft producer’s stock valued at $580,000 after buying an additional 150 shares during the last quarter. Finally, First United Bank Trust increased its holdings in Boeing by 24.3% in the third quarter. First United Bank Trust now owns 768 shares of the aircraft producer’s stock valued at $286,000 after buying an additional 150 shares during the last quarter. Institutional investors own 70.13% of the company’s stock.
Shares of BA stock opened at $312.32 on Monday. The stock has a market cap of $177.36 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.56 and a beta of 1.30. Boeing Co has a 1 year low of $264.53 and a 1 year high of $394.28. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.32 and a current ratio of 1.10.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, November 8th. Boeing’s dividend payout ratio is currently 56.81%.
In related news, SVP Jenette E. Ramos sold 1,640 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $367.52, for a total transaction of $602,732.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Diana L. Sands sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $350.07, for a total value of $1,750,350.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Several research firms recently commented on BA. Robert W. Baird reissued a “buy” rating and issued a $450.00 target price on shares of Boeing in a report on Monday, August 13th. Jefferies Financial Group set a $420.00 target price on Boeing and gave the company a “buy” rating in a report on Tuesday, November 13th. Argus reissued a “fair value” rating and issued a $395.00 target price on shares of Boeing in a report on Thursday, October 25th. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $360.00 price objective (up previously from $350.00) on shares of Boeing in a report on Thursday, October 25th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned 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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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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