Earnest Partners LLC Cuts Holdings in Boeing (BA)

Earnest Partners LLC cut its stake in Boeing (NYSE:BA) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 127,792 shares of the aircraft producer’s stock after selling 16,136 shares during the quarter. Earnest Partners LLC’s holdings in Boeing were worth $37,687,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky increased its position in shares of Boeing by 6.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 158,085 shares of the aircraft producer’s stock worth $46,621,000 after acquiring an additional 8,900 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Boeing by 4.2% during the fourth quarter. California State Teachers Retirement System now owns 987,531 shares of the aircraft producer’s stock worth $291,233,000 after acquiring an additional 39,645 shares during the last quarter. Empire Life Investments Inc. increased its position in shares of Boeing by 27.4% during the fourth quarter. Empire Life Investments Inc. now owns 57,985 shares of the aircraft producer’s stock worth $17,100,000 after acquiring an additional 12,472 shares during the last quarter. Premia Global Advisors LLC purchased a new stake in shares of Boeing during the fourth quarter worth about $154,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Boeing in the fourth quarter worth about $1,070,000. 70.90% of the stock is currently owned by institutional investors.

Shares of NYSE BA opened at $344.14 on Friday. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.15 and a quick ratio of 0.33. The company has a market cap of $198.64 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. Boeing has a 12-month low of $341.44 and a 12-month high of $343.56.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 25th. The aircraft producer reported $3.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.59 by $1.05. The business had revenue of $23.38 billion during the quarter, compared to the consensus estimate of $22.22 billion. Boeing had a return on equity of 3,774.27% and a net margin of 9.63%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 earnings per share. analysts predict that Boeing will post 14.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be given a dividend of $1.71 per share. The ex-dividend date is Thursday, May 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.99%. Boeing’s dividend payout ratio is presently 56.81%.

A number of equities analysts recently commented on the company. Canaccord Genuity reiterated a “hold” rating and issued a $350.00 price target on shares of Boeing in a research note on Wednesday, May 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $358.00 price target (down from $378.00) on shares of Boeing in a research note on Friday, April 6th. Vetr downgraded Boeing from a “strong-buy” rating to a “buy” rating and set a $368.72 price target for the company. in a research note on Tuesday, April 10th. Wells Fargo lifted their price target on Boeing from $365.00 to $370.00 and gave the stock a “market perform” rating in a research note on Thursday, April 26th. Finally, Societe Generale set a $373.00 price target on Boeing and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $374.63.

In other news, EVP J Michael Luttig sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total transaction of $3,097,170.00. Following the completion of the transaction, the executive vice president now directly owns 27,878 shares in the company, valued at $9,593,656.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Gregory L. Hyslop sold 2,241 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $340.27, for a total value of $762,545.07. Following the transaction, the senior vice president now owns 21,425 shares of the company’s stock, valued at $7,290,284.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,373 shares of company stock valued at $4,233,094. Insiders own 0.24% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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