Virtu Financial LLC Lowers Stake in Boeing Co (NYSE:BA)

Virtu Financial LLC reduced its stake in shares of Boeing Co (NYSE:BA) by 88.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,306 shares of the aircraft producer’s stock after selling 10,264 shares during the quarter. Virtu Financial LLC’s holdings in Boeing were worth $497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. 1 North Wealth Services LLC purchased a new stake in Boeing in the third quarter worth about $32,000. Atwater Malick LLC purchased a new stake in Boeing in the third quarter worth about $39,000. Transamerica Financial Advisors Inc. purchased a new stake in Boeing in the second quarter worth about $40,000. Veritas Investment Management LLP purchased a new stake in Boeing in the third quarter worth about $40,000. Finally, Next Capital Management LLC purchased a new stake in Boeing in the second quarter worth about $42,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Boeing stock opened at $355.18 on Tuesday. The company has a market capitalization of $206.08 billion, a PE ratio of 22.18, a P/E/G ratio of 42.51 and a beta of 1.24. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.31 and a current ratio of 1.11. The company has a 50-day simple moving average of $357.93 and a two-hundred day simple moving average of $358.38. Boeing Co has a one year low of $292.47 and a one year high of $446.01.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.59). The firm had revenue of $19.98 billion during the quarter, compared to the consensus estimate of $20 billion. Boeing had a negative return on equity of 367.68% and a net margin of 4.37%. The business’s revenue for the quarter was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.58 earnings per share. On average, equities analysts predict that Boeing Co will post 1.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $2.055 per share. The ex-dividend date is Thursday, November 7th. This represents a $8.22 annualized dividend and a dividend yield of 2.31%. Boeing’s dividend payout ratio (DPR) is currently 51.34%.

A number of analysts recently weighed in on BA shares. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Boeing in a research note on Wednesday, October 23rd. Jefferies Financial Group set a $420.00 price objective on shares of Boeing and gave the stock a “buy” rating in a research note on Monday, October 28th. Berenberg Bank reaffirmed a “buy” rating and issued a $410.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Morgan Stanley lowered their price objective on shares of Boeing from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Cowen set a $460.00 price objective on shares of Boeing and gave the stock a “buy” rating in a research note on Friday, October 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $379.30.

Boeing 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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