Gulf International Bank UK Ltd lessened its holdings in shares of Boeing Co (NYSE:BA) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 177,092 shares of the aircraft producer’s stock after selling 4,500 shares during the period. Boeing accounts for about 0.7% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 29th biggest holding. Gulf International Bank UK Ltd’s holdings in Boeing were worth $52,226,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. raised its holdings in Boeing by 28.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 14,595 shares of the aircraft producer’s stock worth $4,304,000 after purchasing an additional 3,191 shares in the last quarter. Creative Planning raised its holdings in Boeing by 2.3% during the fourth quarter. Creative Planning now owns 180,321 shares of the aircraft producer’s stock worth $53,179,000 after purchasing an additional 4,051 shares in the last quarter. Sicart Associates LLC raised its holdings in Boeing by 75.0% during the fourth quarter. Sicart Associates LLC now owns 7,000 shares of the aircraft producer’s stock worth $2,064,000 after purchasing an additional 3,000 shares in the last quarter. National Pension Service raised its holdings in Boeing by 1.8% during the fourth quarter. National Pension Service now owns 472,429 shares of the aircraft producer’s stock worth $139,324,000 after purchasing an additional 8,168 shares in the last quarter. Finally, RNC Capital Management LLC raised its holdings in Boeing by 1.1% during the fourth quarter. RNC Capital Management LLC now owns 113,018 shares of the aircraft producer’s stock worth $33,330,000 after purchasing an additional 1,261 shares in the last quarter. 76.58% of the stock is currently owned by institutional investors.
Boeing Co (NYSE:BA) opened at $348.92 on Wednesday. Boeing Co has a 52-week low of $173.75 and a 52-week high of $371.60. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. The firm has a market cap of $207,589.95, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same period in the previous year, the company posted $2.47 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. equities analysts anticipate that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its board has approved a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 9th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.96%. This is a boost from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date was Thursday, February 8th. Boeing’s payout ratio is presently 50.78%.
In other news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.28% of the company’s stock.
Several equities research analysts recently commented on the company. Canaccord Genuity boosted their target price on Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. Wells Fargo & Co reissued a “market perform” rating and set a $365.00 target price (up previously from $330.00) on shares of Boeing in a report on Thursday, February 1st. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley restated an “equal weight” rating and issued a $373.00 price target (up previously from $340.00) on shares of Boeing in a research report on Friday, February 23rd. Finally, Royal Bank of Canada set a $363.00 price target on shares of Boeing and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Boeing presently has an average rating of “Buy” and a consensus price target of $359.39.
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).