Benjamin F. Edwards & Company Inc. Acquires 429 Shares of Boeing Co (BA)
Benjamin F. Edwards & Company Inc. raised its position in Boeing Co (NYSE:BA) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,352 shares of the aircraft producer’s stock after buying an additional 429 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Boeing were worth $1,726,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Boeing by 15.1% in the third quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock valued at $3,174,259,000 after buying an additional 1,119,587 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Boeing by 3.3% during the third quarter. Jennison Associates LLC now owns 7,572,179 shares of the aircraft producer’s stock worth $2,816,093,000 after purchasing an additional 242,669 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Boeing by 2.7% during the third quarter. Janus Henderson Group PLC now owns 6,085,525 shares of the aircraft producer’s stock worth $2,263,213,000 after purchasing an additional 157,237 shares in the last quarter. Capital International Investors increased its stake in shares of Boeing by 26.1% during the third quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock worth $1,802,956,000 after purchasing an additional 1,002,825 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Boeing by 0.3% during the third quarter. American Century Companies Inc. now owns 2,908,492 shares of the aircraft producer’s stock worth $1,081,668,000 after purchasing an additional 10,048 shares in the last quarter. 69.78% of the stock is owned by institutional investors.
BA opened at $373.30 on Friday. The stock has a market cap of $212.10 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 1.37 and a beta of 1.36. Boeing Co has a twelve month low of $292.47 and a twelve month high of $446.01. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 25.99.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 8th were given a dividend of $2.055 per share. The ex-dividend date was Thursday, February 7th. This is a positive change from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 dividend on an annualized basis and a yield of 2.20%. Boeing’s payout ratio is presently 51.34%.
Boeing declared that its board has authorized a stock repurchase plan on Monday, December 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently commented on BA. UBS Group reissued a “buy” rating and set a $525.00 target price (up previously from $500.00) on shares of Boeing in a research note on Thursday, February 28th. Morgan Stanley boosted their target price 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 boosted their target price 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. boosted their target price on shares of Boeing to $450.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Finally, Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. Boeing presently has an average rating of “Buy” and a consensus target price of $409.94.
In other Boeing news, SVP Theodore Colbert III sold 2,137 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $408.85, for a total value of $873,712.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Heidi B. Capozzi sold 2,916 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $410.84, for a total transaction of $1,198,009.44. The disclosure for this sale can be found here. Insiders have sold 72,247 shares of company stock worth $28,922,977 over the last 90 days. 0.24% of the stock is currently owned by company insiders.
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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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