Ropes Wealth Advisors LLC Decreases Stake in Boeing Co (NYSE:BA)

Ropes Wealth Advisors LLC reduced its stake in shares of Boeing Co (NYSE:BA) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,250 shares of the aircraft producer’s stock after selling 67 shares during the period. Ropes Wealth Advisors LLC’s holdings in Boeing were worth $3,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its position in shares of Boeing by 22.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 450,841 shares of the aircraft producer’s stock worth $164,111,000 after buying an additional 81,623 shares in the last quarter. Atlantic Trust LLC boosted its position in shares of Boeing by 6.7% in the 2nd quarter. Atlantic Trust LLC now owns 7,739 shares of the aircraft producer’s stock valued at $2,817,000 after purchasing an additional 484 shares during the period. Janus Henderson Group PLC boosted its position in shares of Boeing by 0.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,575,193 shares of the aircraft producer’s stock valued at $2,029,440,000 after purchasing an additional 21,663 shares during the period. Cutter & CO Brokerage Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at $1,397,000. Finally, Advisor Group Inc. boosted its position in shares of Boeing by 2.7% in the 2nd quarter. Advisor Group Inc. now owns 127,546 shares of the aircraft producer’s stock valued at $46,478,000 after purchasing an additional 3,294 shares during the period. Institutional investors own 68.65% of the company’s stock.

Shares of BA traded up $1.00 during midday trading on Tuesday, reaching $333.94. 160,734 shares of the stock were exchanged, compared to its average volume of 5,028,821. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01. The business has a 50 day simple moving average of $354.36. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The firm has a market cap of $189.94 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 10.29 and a beta of 1.27.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The company had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same period last year, the business earned $3.33 EPS. The business’s quarterly revenue was down 35.1% on a year-over-year basis. As a group, sell-side analysts predict that Boeing Co will post 3.98 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be paid a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

A number of research firms recently weighed in on BA. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Zacks Investment Research upgraded Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price target for the company in a research report on Monday, June 10th. UBS Group reiterated a “buy” rating and issued a $480.00 price target (down previously from $500.00) on shares of Boeing in a research report on Wednesday, July 10th. Credit Suisse Group restated a “buy” rating and set a $425.00 price objective on shares of Boeing in a research report on Thursday, July 25th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $375.00 price objective on shares of Boeing in a research report on Friday, July 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. Boeing currently has an average rating of “Hold” and an average target price of $403.10.

About Boeing

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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