Bredin Investment LLC purchased a new position in Boeing Co (NYSE:BA) during the 4th quarter, HoldingsChannel reports. The firm purchased 10,388 shares of the aircraft producer’s stock, valued at approximately $3,084,000. Boeing makes up 2.5% of Bredin Investment LLC’s investment portfolio, making the stock its 6th largest position.
Several other hedge funds and other institutional investors have also modified their holdings of BA. Lipe & Dalton purchased a new stake in shares of Boeing in the third quarter worth approximately $100,000. Burt Wealth Advisors purchased a new stake in shares of Boeing in the third quarter worth approximately $100,000. Stonehearth Capital Management LLC purchased a new stake in shares of Boeing in the fourth quarter worth approximately $105,000. Solaris Asset Management LLC purchased a new stake in shares of Boeing in the fourth quarter worth approximately $111,000. Finally, Clear Perspective Advisors LLC raised its holdings in shares of Boeing by 31.0% in 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 period. Hedge funds and other institutional investors own 76.55% of the company’s stock.
Boeing Co (NYSE:BA) opened at $354.52 on Monday. Boeing Co has a fifty-two week low of $173.75 and a fifty-two week high of $371.60. The stock has a market capitalization of $208,631.58, a price-to-earnings ratio of 29.35, a PEG ratio of 1.84 and a beta of 1.37. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37.
Boeing announced that its board has authorized a share buyback program on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
BA has been the topic of several recent analyst reports. Sanford C. Bernstein increased their price target on Boeing from $402.00 to $422.00 in a report on Friday, February 2nd. JPMorgan Chase & Co. set a $325.00 price target on Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Bank of America set a $320.00 price target on Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th. Cowen restated a “buy” rating and set a $320.00 price objective on shares of Boeing in a report on Monday, December 11th. Finally, Jefferies Group raised their price objective on Boeing from $300.00 to $312.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Buy” and an average target price of $358.47.
In other news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.28% of the company’s stock.
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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