Public Employees Retirement Association of Colorado Buys 81,623 Shares of Boeing Co (NYSE:BA)
Public Employees Retirement Association of Colorado boosted its stake in Boeing Co (NYSE:BA) by 22.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,841 shares of the aircraft producer’s stock after acquiring an additional 81,623 shares during the period. Boeing accounts for 1.0% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 20th largest holding. Public Employees Retirement Association of Colorado owned about 0.08% of Boeing worth $164,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC boosted its holdings in shares of Boeing by 554.5% during the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Boeing by 128.1% during the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after buying an additional 41 shares in the last quarter. Guidant Wealth Advisors bought a new position in shares of Boeing during the 2nd quarter worth approximately $28,000. Next Capital Management LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $32,000. Finally, Clarfeld Financial Advisors LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 68.65% of the company’s stock.
A number of brokerages recently issued reports on BA. Morgan Stanley set a $500.00 target price on Boeing and gave the stock a “buy” rating in a report on Friday, July 19th. Wolfe Research cut Boeing from an “outperform” rating to a “peer perform” rating and cut their target price for the stock from $404.00 to $393.00 in a report on Thursday, July 25th. Berenberg Bank reiterated a “buy” rating and issued a $400.00 target price on shares of Boeing in a report on Tuesday, August 6th. UBS Group reiterated a “buy” rating and issued a $480.00 target price (down from $500.00) on shares of Boeing in a report on Wednesday, July 10th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $375.00 target price on shares of Boeing in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $403.10.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.33 EPS. Sell-side analysts predict that Boeing Co will post 3.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be given a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s payout ratio is currently 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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