Wright Investors Service Inc. grew its holdings in shares of Boeing Co (NYSE:BA) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,692 shares of the aircraft producer’s stock after buying an additional 148 shares during the period. Boeing accounts for about 2.3% of Wright Investors Service Inc.’s holdings, making the stock its 7th largest holding. Wright Investors Service Inc.’s holdings in Boeing were worth $6,076,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. NuWave Investment Management LLC increased its position in Boeing by 554.5% in the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 61 shares during the period. Nordea Investment Management AB increased its position in Boeing by 128.1% in the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after acquiring an additional 41 shares during the period. Guidant Wealth Advisors acquired a new position in Boeing in the 2nd quarter valued at about $28,000. Next Capital Management LLC acquired a new position in Boeing in the 4th quarter valued at about $32,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in Boeing in the 4th quarter valued at about $40,000. 68.65% of the stock is owned by institutional investors.
BA has been the topic of several recent research reports. Buckingham Research boosted their price target on Boeing from $370.00 to $395.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Morgan Stanley set a $500.00 price target on Boeing and gave the company a “buy” rating in a research report on Friday, July 19th. Bank of America set a $420.00 price target on Boeing and gave the company a “hold” rating in a research report on Thursday, June 27th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research upgraded Boeing from a “strong sell” rating to a “hold” rating and set a $301.00 target price on the stock in a research report on Monday, June 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $403.10.
Shares of NYSE:BA traded up $5.95 during trading on Thursday, hitting $326.37. 2,485,906 shares of the stock were exchanged, compared to its average volume of 4,922,259. The company has a fifty day simple moving average of $352.61. The company has a market capitalization of $187.31 billion, a P/E ratio of 20.39, a PEG ratio of 10.14 and a beta of 1.27. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $1.07. The business had revenue of $15.75 billion for 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%. The company’s quarterly revenue was down 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.33 EPS. As a group, research analysts predict that Boeing Co will post 3.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be paid a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, August 8th. 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.
Featured Article: What does an equal weight rating mean?
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.