Trade Report: The Advisory Services Network LLC Raises Stake in Boeing Co. (BA)

The Advisory Services Network LLC Raises Stake in Boeing Co. (BA)

Advisory Services Network LLC boosted its stake in Boeing Co. (NYSE:BA) by 21.9% during the third quarter, Holdings Channel reports. The fund owned 10,135 shares of the aircraft producer’s stock after buying an additional 1,824 shares during the period. Advisory Services Network LLC’s holdings in Boeing were worth $1,335,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BA. Nelson Roberts Investment Advisors LLC boosted its position in shares of Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock valued at $122,000 after buying an additional 180 shares in the last quarter. Van Hulzen Asset Management LLC boosted its position in shares of Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock valued at $130,000 after buying an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. bought a new position in shares of Boeing during the second quarter valued at $136,000. SevenBridge Financial Group LLC bought a new position in shares of Boeing during the second quarter valued at $142,000. Finally, Kelly Lawrence W & Associates Inc. CA boosted its position in shares of Boeing by 25.5% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,155 shares of the aircraft producer’s stock valued at $150,000 after buying an additional 235 shares in the last quarter. 75.43% of the stock is owned by institutional investors and hedge funds.

Boeing Co. (NYSE:BA) traded up 0.20% on Friday, reaching $150.04. The company had a trading volume of 962,387 shares. The company’s 50 day moving average is $141.51 and its 200-day moving average is $133.75. Boeing Co. has a one year low of $102.10 and a one year high of $150.81. The firm has a market capitalization of $92.60 billion, a price-to-earnings ratio of 22.93 and a beta of 1.02.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.89. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The firm earned $23.90 billion during the quarter, compared to analysts’ expectations of $23.73 billion. During the same quarter last year, the company posted $2.52 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that Boeing Co. will post $7.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be issued a dividend of $1.09 per share. The ex-dividend date is Tuesday, November 8th. This represents a $4.36 annualized dividend and a dividend yield of 2.91%. Boeing’s dividend payout ratio (DPR) is presently 66.36%.

A number of equities analysts have recently commented on BA shares. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the stock a “sell” rating in a report on Tuesday, August 30th. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $126.07 price target for the company. in a report on Wednesday, August 24th. Argus boosted their price target on Boeing from $143.31 to $160.00 and gave the stock a “buy” rating in a report on Friday, October 28th. Citigroup Inc. lowered their price target on Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a report on Monday, September 19th. Finally, Barclays PLC lowered their price target on Boeing from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, October 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $147.99.

In related news, EVP J Michael Luttig sold 200,754 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $142.46, for a total transaction of $28,599,414.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

About Boeing

The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.

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