Greystone Managed Investments Inc. reduced its position in Boeing Co (NYSE:BA) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,814 shares of the aircraft producer’s stock after selling 665 shares during the period. Greystone Managed Investments Inc.’s holdings in Boeing were worth $8,669,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Thoroughbred Financial Services LLC increased its holdings 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 valued at $623,555,000 after acquiring an additional 6,218,711 shares during the last quarter. FMR LLC increased its holdings in shares of Boeing by 26.5% during 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 during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Boeing by 33.6% during the 4th quarter. Two Sigma Advisers LP now owns 995,560 shares of the aircraft producer’s stock valued at $321,068,000 after acquiring an additional 250,600 shares during the last quarter. Jennison Associates LLC increased its holdings 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 valued at $2,521,073,000 after acquiring an additional 245,100 shares during the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Boeing during the 4th quarter valued at about $77,540,000. 68.97% of the stock is currently owned by institutional investors.
Shares of BA stock traded down $0.27 during mid-day trading on Wednesday, reaching $347.19. The stock had a trading volume of 2,165,686 shares, compared to its average volume of 4,516,344. The company has a 50 day moving average of $360.18. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. Boeing Co has a one year low of $292.47 and a one year high of $446.01. The company has a market capitalization of $195.52 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 4.16 and a beta of 1.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be given a $2.055 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.37%. Boeing’s dividend payout ratio is currently 51.34%.
A number of research analysts have recently commented on BA shares. Jefferies Financial Group set a $130.00 price objective on American Express and gave the company a “hold” rating in a report on Friday, July 19th. Buckingham Research lowered their price objective on PJT Partners from $49.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Goldman Sachs Group set a €135.00 ($156.98) target price on SAP and gave the company a “buy” rating in a research note on Friday, July 12th. Wolfe Research downgraded Boeing from an “outperform” rating to a “peer perform” rating and decreased their target price for the company from $404.00 to $393.00 in a research note on Thursday, July 25th. Finally, Berenberg Bank restated a “hold” rating on shares of Close Brothers Group in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $403.79.
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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