Parsons Capital Management Inc. RI grew its stake in Boeing Co (NYSE:BA) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,457 shares of the aircraft producer’s stock after acquiring an additional 1,146 shares during the quarter. Boeing comprises approximately 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 16th biggest position. Parsons Capital Management Inc. RI’s holdings in Boeing were worth $10,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in Boeing by 1.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,851 shares of the aircraft producer’s stock valued at $919,000 after acquiring an additional 29 shares during the period. Cardan Capital Partners LLC boosted its stake in shares of Boeing by 1.9% in the 1st quarter. Cardan Capital Partners LLC now owns 1,607 shares of the aircraft producer’s stock valued at $613,000 after buying an additional 30 shares during the period. Haverford Trust Co. boosted its stake in shares of Boeing by 0.4% in the 4th quarter. Haverford Trust Co. now owns 7,096 shares of the aircraft producer’s stock valued at $2,288,000 after buying an additional 31 shares during the period. Apriem Advisors boosted its stake in shares of Boeing by 1.3% in the 4th quarter. Apriem Advisors now owns 2,459 shares of the aircraft producer’s stock valued at $793,000 after buying an additional 31 shares during the period. Finally, CFO4Life Group LLC boosted its stake in shares of Boeing by 5.2% in the 2nd quarter. CFO4Life Group LLC now owns 627 shares of the aircraft producer’s stock valued at $228,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 68.65% of the company’s stock.

Shares of Boeing stock traded up $5.98 during trading on Thursday, reaching $326.40. The company’s stock had a trading volume of 172,602 shares, compared to its average volume of 4,922,259. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01. The firm has a market capitalization of $187.31 billion, a P/E ratio of 20.39, a P/E/G ratio of 10.14 and a beta of 1.27. The business’s 50 day simple moving average is $352.61.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The firm had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.05 billion. During the same period in the previous year, the business earned $3.33 earnings per share. The company’s revenue for the quarter was down 35.1% compared to the same quarter last year. Analysts predict that Boeing Co will post 3.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be paid a $2.055 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.52%. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

Several brokerages have recently weighed in on BA. Wolfe Research lowered 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 research report on Thursday, July 25th. Cowen set a $460.00 price target on Boeing and gave the stock a “buy” rating in a research report on Friday, July 19th. Barclays lowered Boeing from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $417.00 to $367.00 in a research report on Tuesday, May 7th. Jefferies Financial Group cut their price target on Boeing from $448.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $375.00 price target on shares of Boeing in a research report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $403.10.

Boeing 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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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