Orrstown Financial Services Inc. purchased a new stake in Boeing Co (NYSE:BA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,447 shares of the aircraft producer’s stock, valued at approximately $551,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ironwood Financial llc bought a new stake in Boeing during the 4th quarter valued at $32,000. Next Capital Management LLC bought a new stake in Boeing during the 4th quarter valued at $32,000. Proffitt & Goodson Inc. raised its holdings in Boeing by 1,371.4% during the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock valued at $33,000 after buying an additional 96 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Boeing during the 4th quarter valued at $40,000. Finally, Clarfeld Financial Advisors LLC bought a new stake in Boeing during the 4th quarter valued at $40,000. 67.99% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Goldman Sachs Group set a $393.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Nord/LB reissued a “sell” rating and set a $300.00 price objective on shares of Boeing in a research report on Wednesday, March 13th. Finally, Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $407.40.
Shares of Boeing stock traded up $5.62 on Wednesday, hitting $374.94. 4,352,430 shares of the company traded hands, compared to its average volume of 6,029,029. The firm has a market cap of $208.60 billion, a PE ratio of 23.42, a P/E/G ratio of 2.33 and a beta of 1.31. 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 Co has a 52 week low of $292.47 and a 52 week high of $446.01. The company’s 50-day moving average price is $354.42.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $3.64 earnings per share. Boeing’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Boeing Co will post 14.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a dividend of $2.055 per share. The ex-dividend date is Thursday, August 8th. This represents a $8.22 annualized dividend and a dividend yield of 2.19%. Boeing’s dividend payout ratio (DPR) is 51.34%.
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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