Lincoln Capital Corp boosted its holdings in shares of Boeing Co (NYSE:BA) by 18.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,899 shares of the aircraft producer’s stock after purchasing an additional 595 shares during the period. Lincoln Capital Corp’s holdings in Boeing were worth $1,483,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. NuWave Investment Management LLC lifted its position in shares of Boeing by 554.5% in the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 61 shares in the last quarter. Guidant Wealth Advisors purchased a new stake in shares of Boeing in the 2nd quarter valued at approximately $28,000. 1 North Wealth Services LLC purchased a new stake in shares of Boeing in the 3rd quarter valued at approximately $32,000. Atwater Malick LLC purchased a new stake in shares of Boeing in the 3rd quarter valued at approximately $39,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in Boeing in the 2nd quarter valued at approximately $40,000. 67.84% of the stock is owned by institutional investors and hedge funds.
BA has been the topic of several research reports. Robert W. Baird lowered shares of Boeing from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $445.00 to $342.00 in a research note on Monday, October 21st. Bank of America set a $370.00 price objective on shares of Boeing and gave the company a “hold” rating in a research note on Monday, October 21st. Wolfe Research lowered shares of Boeing from an “outperform” rating to a “peer perform” rating and dropped their price objective for the company from $404.00 to $393.00 in a research note on Thursday, July 25th. Morgan Stanley dropped their price objective on shares of Boeing from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $410.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $379.30.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.59). Boeing had a negative return on equity of 367.68% and a net margin of 4.37%. The business had revenue of $19.98 billion for the quarter, compared to analyst estimates of $20 billion. During the same quarter last year, the company earned $3.58 EPS. The business’s revenue for the quarter was down 20.5% compared to the same quarter last year. On average, equities analysts predict that Boeing Co will post 1.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $8.22 annualized dividend and a dividend yield of 2.34%. Boeing’s dividend payout ratio (DPR) is 51.34%.
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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