Boys Arnold & Co. Inc. grew its holdings in shares of Boeing Co (NYSE:BA) by 98.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,099 shares of the aircraft producer’s stock after buying an additional 5,501 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Boeing were worth $3,511,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BA. Pettinga Financial Advisors LLC purchased a new position in Boeing during the fourth quarter worth about $379,000. Shufro Rose & Co. LLC boosted its holdings in Boeing by 8.4% during the fourth quarter. Shufro Rose & Co. LLC now owns 2,590 shares of the aircraft producer’s stock worth $835,000 after purchasing an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Boeing by 8.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,352 shares of the aircraft producer’s stock worth $1,726,000 after purchasing an additional 429 shares during the last quarter. OLD National Bancorp IN boosted its holdings in Boeing by 4.7% during the fourth quarter. OLD National Bancorp IN now owns 14,659 shares of the aircraft producer’s stock worth $4,727,000 after purchasing an additional 658 shares during the last quarter. Finally, Steinberg Global Asset Management boosted its holdings in Boeing by 39.9% during the fourth quarter. Steinberg Global Asset Management now owns 10,652 shares of the aircraft producer’s stock worth $3,435,000 after purchasing an additional 3,036 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.
In other news, CFO Gregory D. Smith sold 19,500 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $401.38, for a total value of $7,826,910.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy John Keating sold 26,557 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $395.47, for a total transaction of $10,502,496.79. The disclosure for this sale can be found here. In the last three months, insiders sold 72,247 shares of company stock worth $28,922,977. Insiders own 0.24% of the company’s stock.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.96. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The company had revenue of $28.34 billion for the quarter, compared to analyst estimates of $26.76 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, research analysts anticipate that Boeing Co will post 20.13 earnings per share for the current fiscal year.
Boeing announced that its board has initiated a stock repurchase plan on Monday, December 17th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to buy up to 11.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 8th were given a $2.055 dividend. The ex-dividend date of this dividend was Thursday, February 7th. This represents a $8.22 annualized dividend and a dividend yield of 2.20%. This is a positive change from Boeing’s previous quarterly dividend of $1.71. Boeing’s payout ratio is 51.34%.
BA has been the topic of several analyst reports. ValuEngine cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Tigress Financial restated a “buy” rating on shares of Boeing in a report on Monday, November 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 target price on shares of Boeing in a research note on Thursday, December 6th. Cowen reiterated a “buy” rating and issued a $445.00 target price on shares of Boeing in a research note on Tuesday, December 18th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $456.00 target price on shares of Boeing in a research note on Tuesday, December 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $409.94.
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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