Searle & CO. purchased a new position in Boeing Co. (NYSE:BA) during the third quarter, Holdings Channel reports. The firm purchased 10,630 shares of the aircraft producer’s stock, valued at approximately $1,406,000. Boeing accounts for about 1.2% of Searle & CO.’s holdings, making the stock its 29th largest position.
A number of other hedge funds have also modified their holdings of the company. Nelson Roberts Investment Advisors LLC raised its stake in Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock worth $122,000 after buying an additional 180 shares during the last quarter. Van Hulzen Asset Management LLC raised its stake in Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock worth $130,000 after buying an additional 100 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new stake in Boeing during the second quarter worth $136,000. SevenBridge Financial Group LLC purchased a new stake in Boeing during the second quarter worth $142,000. Finally, Kelly Lawrence W & Associates Inc. CA raised its stake in 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 worth $150,000 after buying an additional 235 shares during the last quarter. Institutional investors own 72.90% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 0.18% during mid-day trading on Monday, reaching $149.77. The company’s stock had a trading volume of 4,728,764 shares. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.81. The firm’s 50 day moving average is $141.96 and its 200-day moving average is $133.86. The company has a market capitalization of $92.43 billion, a PE ratio of 22.89 and a beta of 1.02.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.89. Boeing had a return on equity of 126.01% and a net margin of 4.52%. The company earned $23.90 billion during the quarter, compared to analyst estimates of $23.73 billion. During the same quarter in the previous year, the firm posted $2.52 EPS. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. Analysts forecast that Boeing Co. will post $7.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 11th will be given a dividend of $1.09 per share. The ex-dividend date is Tuesday, November 8th. This represents a $4.36 dividend on an annualized basis and a yield of 2.91%. Boeing’s dividend payout ratio (DPR) is presently 66.36%.
A number of analysts recently weighed in on the stock. Vetr upgraded shares of Boeing from a “sell” rating to a “hold” rating and set a $129.80 target price on the stock in a research note on Monday, August 1st. Societe Generale set a $148.00 price target on Boeing and gave the company a “neutral” rating in a report on Friday, October 28th. Vertical Research assumed coverage on Boeing in a report on Friday, October 28th. They issued a “hold” rating for the company. TheStreet raised Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, October 26th. Finally, Robert W. Baird assumed coverage on Boeing in a report on Wednesday, October 5th. They issued an “outperform” rating and a $161.00 price target for the company. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $147.99.
In other news, EVP J Michael Luttig sold 200,754 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $142.46, for a total value of $28,599,414.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
Boeing Company Profile
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.