Principle Wealth Partners LLC Has $13.88 Million Stock Holdings in Boeing Co (NYSE:BA)

Principle Wealth Partners LLC grew its holdings in shares of Boeing Co (NYSE:BA) by 310.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 36,478 shares of the aircraft producer’s stock after acquiring an additional 27,601 shares during the period. Boeing comprises 4.8% of Principle Wealth Partners LLC’s holdings, making the stock its 2nd largest holding. Principle Wealth Partners LLC’s holdings in Boeing were worth $13,879,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors grew its holdings in Boeing by 0.4% in the third quarter. Vanguard Capital Wealth Advisors now owns 6,730 shares of the aircraft producer’s stock worth $2,560,000 after purchasing an additional 29 shares during the period. Pflug Koory LLC grew its holdings in Boeing by 0.6% in the third quarter. Pflug Koory LLC now owns 5,398 shares of the aircraft producer’s stock worth $2,054,000 after purchasing an additional 30 shares during the period. LeJeune Puetz Investment Counsel LLC grew its holdings in Boeing by 0.3% in the third quarter. LeJeune Puetz Investment Counsel LLC now owns 10,904 shares of the aircraft producer’s stock worth $4,149,000 after purchasing an additional 30 shares during the period. Lesa Sroufe & Co grew its holdings in Boeing by 2.4% in the third quarter. Lesa Sroufe & Co now owns 1,292 shares of the aircraft producer’s stock worth $492,000 after purchasing an additional 30 shares during the period. Finally, OLD Dominion Capital Management Inc. grew its holdings in Boeing by 0.8% in the third quarter. OLD Dominion Capital Management Inc. now owns 3,587 shares of the aircraft producer’s stock worth $1,365,000 after purchasing an additional 30 shares during the period. 67.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE BA traded down $6.31 during mid-day trading on Friday, reaching $351.00. 3,117,554 shares of the company’s stock traded hands, compared to its average volume of 5,364,701. The stock has a market cap of $201.64 billion, a P/E ratio of 21.92, a PEG ratio of 39.90 and a beta of 1.24. The business has a 50-day simple moving average of $362.82 and a 200 day simple moving average of $358.59. Boeing Co has a 1-year low of $292.47 and a 1-year high of $446.01. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.11 and a quick ratio of 0.31.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.59). Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The firm had revenue of $19.98 billion for the quarter, compared to the consensus estimate of $20 billion. During the same period in the previous year, the business earned $3.58 earnings per share. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis. Equities research analysts anticipate that Boeing Co will post 1.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, November 7th. Boeing’s payout ratio is currently 51.34%.

A number of equities research analysts have commented on the stock. Cowen set a $460.00 price target on shares of Boeing and gave the stock a “buy” rating in a report on Friday, October 11th. Bank of America set a $370.00 price target on shares of Boeing and gave the stock a “hold” rating in a report on Monday, October 21st. Citigroup reduced their price target on shares of Boeing from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $379.30.

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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