Barometer Capital Management Inc. Reduces Holdings in Boeing Co (BA)

Barometer Capital Management Inc. trimmed its position in Boeing Co (NYSE:BA) by 42.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,300 shares of the aircraft producer’s stock after selling 19,216 shares during the period. Barometer Capital Management Inc.’s holdings in Boeing were worth $9,781,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Hudock Capital Group LLC raised its stake in Boeing by 3.4% during the 2nd quarter. Hudock Capital Group LLC now owns 4,341 shares of the aircraft producer’s stock valued at $1,456,000 after purchasing an additional 144 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its stake in Boeing by 0.5% during the 2nd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 30,349 shares of the aircraft producer’s stock valued at $10,182,000 after purchasing an additional 146 shares during the period. TNB Financial raised its stake in Boeing by 1.6% during the 2nd quarter. TNB Financial now owns 9,397 shares of the aircraft producer’s stock valued at $3,153,000 after purchasing an additional 149 shares during the period. Elite Wealth Management Inc. raised its stake in Boeing by 17.8% during the 1st quarter. Elite Wealth Management Inc. now owns 993 shares of the aircraft producer’s stock valued at $326,000 after purchasing an additional 150 shares during the period. Finally, Bourne Lent Asset Management Inc. raised its stake in Boeing by 9.5% during the 2nd quarter. Bourne Lent Asset Management Inc. now owns 1,728 shares of the aircraft producer’s stock valued at $580,000 after purchasing an additional 150 shares during the period. 69.56% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Diana L. Sands sold 5,000 shares of Boeing stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $350.07, for a total value of $1,750,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Shares of Boeing stock opened at $357.75 on Monday. The company has a market capitalization of $203.16 billion, a PE ratio of 29.71, a P/E/G ratio of 1.73 and a beta of 1.30. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.10 and a quick ratio of 0.32. Boeing Co has a one year low of $259.56 and a one year high of $394.28.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, topping the Zacks’ consensus estimate of $3.47 by $0.11. The firm had revenue of $25.15 billion during the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 EPS. As a group, research analysts forecast that Boeing Co will post 15.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, November 8th. Boeing’s dividend payout ratio (DPR) is 56.81%.

Several equities analysts have weighed in on the company. Zacks Investment Research cut Boeing from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 12th. Cowen restated a “buy” rating and set a $430.00 price target on shares of Boeing in a report on Friday, July 13th. Canaccord Genuity restated a “hold” rating and set a $350.00 price target on shares of Boeing in a report on Tuesday, July 24th. Goldman Sachs Group set a $375.00 price target on Boeing and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $400.00 price target on shares of Boeing in a report on Thursday, July 26th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $410.21.

Boeing 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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