Martingale Asset Management L P trimmed its position in shares of Boeing Co (NYSE:BA) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,854 shares of the aircraft producer’s stock after selling 7,606 shares during the period. Boeing makes up about 0.9% of Martingale Asset Management L P’s holdings, making the stock its 6th biggest holding. Martingale Asset Management L P’s holdings in Boeing were worth $70,581,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. boosted its position in Boeing by 1.3% in the 4th quarter. Howe & Rusling Inc. now owns 2,416 shares of the aircraft producer’s stock valued at $779,000 after buying an additional 31 shares during the last quarter. Spectrum Management Group Inc. boosted its position in Boeing by 0.3% in the 4th quarter. Spectrum Management Group Inc. now owns 13,140 shares of the aircraft producer’s stock valued at $4,238,000 after buying an additional 33 shares during the last quarter. Nikulski Financial Inc. raised its stake in shares of Boeing by 1.3% in the 4th quarter. Nikulski Financial Inc. now owns 2,644 shares of the aircraft producer’s stock valued at $853,000 after purchasing an additional 34 shares in the last quarter. Kanawha Capital Management LLC raised its stake in shares of Boeing by 5.1% in the 4th quarter. Kanawha Capital Management LLC now owns 727 shares of the aircraft producer’s stock valued at $234,000 after purchasing an additional 35 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its stake in shares of Boeing by 0.6% in the 4th quarter. Hartford Financial Management Inc. now owns 6,134 shares of the aircraft producer’s stock valued at $1,978,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 68.95% of the company’s stock.
Boeing stock traded down $5.97 during trading hours on Wednesday, reaching $352.78. 3,556,565 shares of the stock were exchanged, compared to its average volume of 6,580,435. The company has a market capitalization of $199.74 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.20 and a beta of 1.30. Boeing Co has a twelve month low of $292.47 and a twelve month high of $446.01. The company has a quick ratio of 0.29, a current ratio of 1.07 and a debt-to-equity ratio of 48.98.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.05. Boeing had a net margin of 10.06% and a negative return on equity of 1,857.97%. The firm had revenue of $22.92 billion during the quarter, compared to analyst estimates of $23.04 billion. During the same quarter last year, the business earned $3.64 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Boeing Co will post 14.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $2.055 dividend. This represents a $8.22 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. Boeing’s payout ratio is currently 51.34%.
A number of equities research analysts have recently issued reports on the stock. UBS Group restated a “buy” rating and issued a $525.00 target price (up previously from $500.00) on shares of Boeing in a research note on Thursday, February 28th. Morgan Stanley increased their price objective on shares of Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. Argus increased their price objective on shares of Boeing from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Boeing to $450.00 and gave the stock an “overweight” rating in a report on Monday, February 11th. Finally, Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $413.01.
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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