Meridian Wealth Management LLC cut its holdings in Boeing Co (NYSE:BA) by 4.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,104 shares of the aircraft producer’s stock after selling 1,190 shares during the period. Boeing makes up approximately 3.7% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. Meridian Wealth Management LLC’s holdings in Boeing were worth $9,138,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. NuWave Investment Management LLC lifted its position in Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares during the period. Nordea Investment Management AB lifted its position in Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares during the period. Guidant Wealth Advisors bought a new stake in Boeing during the second quarter worth about $28,000. Next Capital Management LLC bought a new stake in Boeing during the fourth quarter worth about $32,000. Finally, 1 North Wealth Services LLC bought a new stake in Boeing during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 68.97% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Citigroup set a $12.00 price objective on shares of Controladora Vuela Co Avcn SA CV and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. TheStreet raised shares of Viacom from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. ValuEngine raised shares of Worldline from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Credit Suisse Group reissued a “buy” rating and issued a $425.00 target price on shares of Boeing in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. Boeing presently has a consensus rating of “Hold” and a consensus target price of $403.79.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The company had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same quarter in the prior year, the firm posted $3.33 earnings per share. The firm’s revenue was down 35.1% compared to the same quarter last year. On average, equities analysts anticipate that Boeing Co will post 7.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be paid a $2.055 dividend. This represents a $8.22 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio 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.
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