Fagan Associates Inc. increased its holdings in Boeing Co (NYSE:BA) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,178 shares of the aircraft producer’s stock after buying an additional 140 shares during the quarter. Boeing accounts for about 1.2% of Fagan Associates Inc.’s investment portfolio, making the stock its 25th largest position. Fagan Associates Inc.’s holdings in Boeing were worth $2,977,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in Boeing by 26.5% during the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after purchasing an additional 2,311,630 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Boeing by 33.6% during the fourth quarter. Two Sigma Advisers LP now owns 995,560 shares of the aircraft producer’s stock valued at $321,068,000 after purchasing an additional 250,600 shares in the last quarter. Jennison Associates LLC lifted its holdings in Boeing by 3.2% during the fourth quarter. Jennison Associates LLC now owns 7,817,279 shares of the aircraft producer’s stock valued at $2,521,073,000 after purchasing an additional 245,100 shares in the last quarter. Mackay Shields LLC purchased a new position in Boeing during the fourth quarter valued at approximately $77,540,000. Finally, Geode Capital Management LLC lifted its holdings in Boeing by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock valued at $2,015,856,000 after purchasing an additional 214,945 shares in the last quarter. 68.97% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on BA shares. Cowen set a $460.00 price target on shares of Boeing and gave the company a “buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $375.00 price target on shares of Boeing in a report on Friday, July 12th. Zacks Investment Research raised shares of Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 price target on the stock in a report on Monday, June 10th. Finally, UBS Group reaffirmed a “buy” rating and set a $480.00 price target (down previously from $500.00) on shares of Boeing in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $403.79.
BA stock opened at $334.29 on Friday. Boeing Co has a one year low of $292.47 and a one year high of $446.01. The stock has a fifty day moving average of $359.99. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.03 and a quick ratio of 0.29. The stock has a market capitalization of $195.52 billion, a P/E ratio of 22.95, a PEG ratio of 10.49 and a beta of 1.30.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The company had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the previous year, the business posted $3.33 earnings per share. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. As a group, equities analysts expect that Boeing Co will post 4.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be given a $2.055 dividend. This represents a $8.22 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s dividend payout ratio is presently 51.34%.
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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