Focused Wealth Management Inc Sells 121 Shares of Boeing Co (NYSE:BA)

Focused Wealth Management Inc cut its stake in Boeing Co (NYSE:BA) by 22.2% in the third quarter, Holdings Channel.com reports. The firm owned 424 shares of the aircraft producer’s stock after selling 121 shares during the period. Focused Wealth Management Inc’s holdings in Boeing were worth $161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Boeing by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 40,214,155 shares of the aircraft producer’s stock worth $14,638,355,000 after purchasing an additional 275,250 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 7.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock worth $13,009,918,000 after purchasing an additional 2,607,364 shares in the last quarter. BlackRock Inc. increased its position in shares of Boeing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 34,081,637 shares of the aircraft producer’s stock worth $12,406,056,000 after purchasing an additional 264,410 shares in the last quarter. Newport Trust Co increased its position in shares of Boeing by 1.0% during the 2nd quarter. Newport Trust Co now owns 30,669,091 shares of the aircraft producer’s stock worth $11,163,856,000 after purchasing an additional 298,466 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in 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 worth $623,555,000 after acquiring an additional 6,218,711 shares during the last quarter. 67.72% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on BA. Robert W. Baird lowered shares of Boeing from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $445.00 to $342.00 in a report on Monday, October 21st. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Wolfe Research lowered shares of Boeing from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $404.00 to $393.00 in a report on Thursday, July 25th. Buckingham Research reissued a “hold” rating and set a $365.00 price objective (down previously from $395.00) on shares of Boeing in a report on Tuesday, October 29th. Finally, Bank of America set a $370.00 price objective on shares of Boeing and gave the stock a “hold” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $379.30.

Shares of NYSE BA traded down $0.13 during mid-day trading on Wednesday, hitting $362.75. The company’s stock had a trading volume of 2,715,096 shares, compared to its average volume of 5,394,534. The stock has a market cap of $197.54 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 39.09 and a beta of 1.24. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.11 and a quick ratio of 0.31. Boeing Co has a one year low of $292.47 and a one year high of $446.01. The company’s fifty day simple moving average is $361.36 and its 200-day simple moving average is $358.26.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.59). The business had revenue of $19.98 billion during the quarter, compared to the consensus estimate of $20 billion. Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The firm’s revenue for the quarter was down 20.5% compared to the same quarter last year. During the same period last year, the business posted $3.58 EPS. On average, sell-side analysts predict that Boeing Co will post 1.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $2.055 dividend. This represents a $8.22 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, November 7th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

About Boeing

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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