Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in shares of Boeing Co. (NYSE:BA) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 366,183 shares of the aircraft producer’s stock after selling 12,808 shares during the period. Boeing comprises approximately 1.2% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s investment portfolio, making the stock its 11th largest position. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.06% of Boeing worth $48,241,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC boosted its position in shares of Boeing by 0.3% in the second quarter. Mycio Wealth Partners LLC now owns 3,813 shares of the aircraft producer’s stock worth $495,000 after buying an additional 13 shares in the last quarter. Bangor Savings Bank boosted its position in shares of Boeing by 0.6% in the third quarter. Bangor Savings Bank now owns 2,221 shares of the aircraft producer’s stock worth $292,000 after buying an additional 14 shares in the last quarter. Stillwater Investment Management LLC boosted its position in shares of Boeing by 0.8% in the third quarter. Stillwater Investment Management LLC now owns 1,965 shares of the aircraft producer’s stock worth $259,000 after buying an additional 16 shares in the last quarter. South Texas Money Management Ltd. boosted its position in shares of Boeing by 1.0% in the second quarter. South Texas Money Management Ltd. now owns 1,992 shares of the aircraft producer’s stock worth $259,000 after buying an additional 19 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Boeing by 1.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,022 shares of the aircraft producer’s stock worth $263,000 after buying an additional 20 shares in the last quarter. 72.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boeing Co. (NYSE:BA) opened at 158.32 on Thursday. The company has a market cap of $97.71 billion, a P/E ratio of 24.19 and a beta of 1.05. The stock’s 50 day moving average is $156.24 and its 200 day moving average is $140.47. Boeing Co. has a 1-year low of $102.10 and a 1-year high of $160.07.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.89. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The company earned $23.90 billion during the quarter, compared to analysts’ expectations of $23.73 billion. During the same quarter in the prior year, the company earned $2.52 EPS. Boeing’s revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Boeing Co. will post $7.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, February 10th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.09. Boeing’s dividend payout ratio is currently 66.36%.
A number of equities analysts recently commented on BA shares. Jefferies Group reaffirmed a “buy” rating and issued a $165.00 target price on shares of Boeing in a report on Thursday, September 22nd. Credit Suisse Group AG reiterated a “neutral” rating and issued a $148.00 price target on shares of Boeing in a research note on Friday, September 23rd. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $147.00 price target for the company in a research note on Wednesday, September 28th. Robert W. Baird assumed coverage on Boeing in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $161.00 price target for the company. Finally, Barclays PLC cut their price target on Boeing from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, October 6th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $148.59.
In related news, EVP J Michael Luttig sold 200,754 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $142.46, for a total transaction of $28,599,414.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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