Boeing Co (NYSE:BA) is Optimum Investment Advisors’ 10th Largest Position

Optimum Investment Advisors increased its stake in Boeing Co (NYSE:BA) by 30.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,367 shares of the aircraft producer’s stock after acquiring an additional 2,889 shares during the quarter. Boeing comprises approximately 1.5% of Optimum Investment Advisors’ investment portfolio, making the stock its 10th biggest position. Optimum Investment Advisors’ holdings in Boeing were worth $4,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gantzert Investment Co. LLC ADV bought a new position in Boeing in the 4th quarter valued at about $2,348,000. Fishman Jay A Ltd. MI lifted its position in Boeing by 4.0% in the 4th quarter. Fishman Jay A Ltd. MI now owns 47,535 shares of the aircraft producer’s stock valued at $15,330,000 after acquiring an additional 1,830 shares in the last quarter. Acima Private Wealth LLC bought a new position in Boeing in the 4th quarter valued at about $247,000. Weatherstone Capital Management bought a new position in Boeing in the 4th quarter valued at about $576,000. Finally, Larson Financial Group LLC bought a new position in Boeing in the 4th quarter valued at about $99,000. 68.94% of the stock is owned by institutional investors.

Shares of Boeing stock traded up $1.50 during mid-day trading on Friday, hitting $337.85. 1,562,534 shares of the stock were exchanged, compared to its average volume of 5,060,569. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01. The firm’s 50-day moving average is $357.24. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98. The stock has a market capitalization of $187.07 billion, a P/E ratio of 21.10, a P/E/G ratio of 10.03 and a beta of 1.27.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The company had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. During the same quarter last year, the business posted $3.33 EPS. Boeing’s quarterly revenue was down 35.1% compared to the same quarter last year. On average, research analysts predict that Boeing Co will post 3.98 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be paid a dividend of $2.055 per share. The ex-dividend date is Thursday, August 8th. This represents a $8.22 annualized dividend and a dividend yield of 2.43%. Boeing’s payout ratio is currently 51.34%.

Several equities analysts recently weighed in on BA shares. Barclays cut shares of Boeing from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $417.00 to $367.00 in a research report on Tuesday, May 7th. Cowen set a $460.00 price target on shares of Boeing and gave the company a “buy” rating in a research report on Friday, July 19th. Jefferies Financial Group dropped their price target on shares of Boeing from $448.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Buckingham Research lifted their target price on shares of Boeing from $370.00 to $395.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Credit Suisse Group reissued a “buy” rating and set a $425.00 target price on shares of Boeing in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $403.10.

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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