Boeing Company (The) (BA) Position Cut by Destination Wealth Management

Destination Wealth Management lowered its stake in Boeing Company (The) (NYSE:BA) by 8.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,018 shares of the aircraft producer’s stock after selling 547 shares during the period. Destination Wealth Management’s holdings in Boeing Company (The) were worth $1,064,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Boeing Company (The) by 30.6% in the first quarter. Bank of Montreal Can now owns 2,968,297 shares of the aircraft producer’s stock valued at $524,974,000 after buying an additional 694,658 shares during the last quarter. Swiss National Bank increased its position in Boeing Company (The) by 25.2% in the first quarter. Swiss National Bank now owns 2,077,391 shares of the aircraft producer’s stock valued at $367,407,000 after buying an additional 418,500 shares during the period. AQR Capital Management LLC increased its position in Boeing Company (The) by 16.2% in the fourth quarter. AQR Capital Management LLC now owns 1,578,138 shares of the aircraft producer’s stock valued at $245,684,000 after buying an additional 220,196 shares during the period. British Airways Pensions Investment Management Ltd increased its position in Boeing Company (The) by 184.8% in the first quarter. British Airways Pensions Investment Management Ltd now owns 282,482 shares of the aircraft producer’s stock valued at $49,934,000 after buying an additional 183,286 shares during the period. Finally, LSV Asset Management increased its position in Boeing Company (The) by 4.9% in the first quarter. LSV Asset Management now owns 2,985,054 shares of the aircraft producer’s stock valued at $527,936,000 after buying an additional 138,170 shares during the period. 74.44% of the stock is currently owned by institutional investors.

Shares of Boeing Company (NYSE BA) traded up 0.08% on Friday, hitting $235.77. The company’s stock had a trading volume of 2,939,494 shares. Boeing Company has a 52 week low of $126.31 and a 52 week high of $246.49. The stock’s 50 day moving average is $222.49 and its 200-day moving average is $191.63. The company has a market cap of $139.36 billion, a price-to-earnings ratio of 20.66 and a beta of 1.16.

Boeing Company (The) (NYSE:BA) last posted its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.23. The business had revenue of $22.74 billion for the quarter, compared to analysts’ expectations of $22.97 billion. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. On average, equities research analysts anticipate that Boeing Company will post $9.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a $1.42 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $5.68 dividend on an annualized basis and a yield of 2.41%. Boeing Company (The)’s payout ratio is currently 49.74%.

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A number of brokerages recently commented on BA. Royal Bank Of Canada lifted their target price on Boeing Company (The) from $138.00 to $146.00 and gave the company an “underperform” rating in a research report on Thursday, April 27th. Argus reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Boeing Company (The) in a research note on Tuesday, August 1st. Zacks Investment Research cut Boeing Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Vetr cut Boeing Company (The) from a “strong-buy” rating to a “buy” rating and set a $266.88 price objective for the company. in a research note on Wednesday. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Boeing Company (The) in a research note on Sunday, July 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $230.62.

In related news, SVP Thomas J. Downey sold 134 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $241.20, for a total value of $32,320.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Heidi B. Capozzi sold 4,217 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $241.51, for a total transaction of $1,018,447.67. The disclosure for this sale can be found here. In the last three months, insiders sold 83,468 shares of company stock worth $20,353,814. 0.28% of the stock is currently owned by insiders.

About Boeing Company (The)

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

Institutional Ownership by Quarter for Boeing Company (The) (NYSE:BA)

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