Nippon Life Insurance Co. Has $4.93 Million Stake in Boeing Co (BA)
Nippon Life Insurance Co. lowered its stake in Boeing Co (NYSE:BA) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,389 shares of the aircraft producer’s stock after selling 202 shares during the quarter. Nippon Life Insurance Co.’s holdings in Boeing were worth $4,929,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after buying an additional 4,852,679 shares during the period. Harbour Capital Advisors LLC raised its stake in Boeing by 18,613.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,342,129 shares of the aircraft producer’s stock worth $6,787,000 after buying an additional 1,334,957 shares during the period. AQR Capital Management LLC raised its stake in Boeing by 66.5% during the 1st quarter. AQR Capital Management LLC now owns 2,627,684 shares of the aircraft producer’s stock worth $464,732,000 after buying an additional 1,049,546 shares during the period. Koch Industries Inc. raised its stake in Boeing by 61,128.7% during the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock worth $846,000 after buying an additional 848,467 shares during the period. Finally, APG Asset Management N.V. raised its stake in Boeing by 87.8% during the 3rd quarter. APG Asset Management N.V. now owns 1,382,727 shares of the aircraft producer’s stock worth $351,503,000 after buying an additional 646,500 shares during the period. 70.85% of the stock is currently owned by institutional investors.
BA has been the topic of several research analyst reports. Canaccord Genuity raised their price objective on Boeing from $245.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Vetr downgraded Boeing from a “hold” rating to a “sell” rating and set a $253.54 price objective on the stock. in a research note on Thursday, October 12th. Jefferies Group raised their price objective on Boeing from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, September 22nd. Finally, Cowen reaffirmed a “buy” rating and set a $320.00 price objective on shares of Boeing in a research note on Monday, December 11th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $270.67.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The company had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same quarter last year, the company earned $3.51 EPS. Boeing’s revenue for the quarter was up 1.7% compared to the same quarter last year. sell-side analysts expect that Boeing Co will post 10.11 earnings per share for the current fiscal year.
Boeing announced that its Board of Directors has initiated a stock buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $1.71 dividend. This is an increase from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio (DPR) is 52.25%.
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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.
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