Caisse DE Depot ET Placement DU Quebec grew its holdings in Boeing Co (NYSE:BA) by 241.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 290,750 shares of the aircraft producer’s stock after purchasing an additional 205,700 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Boeing were worth $74,223,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of BA. Lipe & Dalton acquired a new position in Boeing during the third quarter worth $100,000. Burt Wealth Advisors acquired a new position in Boeing during the third quarter worth $100,000. Clear Perspective Advisors LLC increased its holdings in Boeing by 31.0% during the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after buying an additional 135 shares during the last quarter. Vantage Investment Advisors LLC increased its holdings in Boeing by 11.1% during the second quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after buying an additional 84 shares during the last quarter. Finally, CWH Capital Management Inc. acquired a new position in Boeing during the second quarter worth $134,000. Institutional investors own 70.45% of the company’s stock.
In other news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. Boeing’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 earnings per share. sell-side analysts forecast that Boeing Co will post 14.03 EPS for the current year.
Boeing announced that its board has authorized a stock buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is presently 58.31%.
BA has been the topic of a number of recent analyst reports. Buckingham Research set a $289.00 target price on shares of Boeing and gave the stock a “hold” rating in a report on Thursday, February 8th. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 target price on the stock in a report on Tuesday, January 2nd. Canaccord Genuity restated a “hold” rating and set a $345.00 target price (up from $290.00) on shares of Boeing in a report on Thursday, February 1st. Robert W. Baird set a $433.00 target price on shares of Boeing and gave the stock a “buy” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 target price on shares of Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $353.24.
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.
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