First Financial Bank N.A. Trust Division Increases Stake in Boeing Co. (BA)
First Financial Bank N.A. Trust Division raised its stake in Boeing Co. (NYSE:BA) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 10,701 shares of the aircraft producer’s stock after buying an additional 14 shares during the period. First Financial Bank N.A. Trust Division’s holdings in Boeing were worth $1,410,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of BA. Jacobs & Co. CA increased its position in Boeing by 2.4% in the third quarter. Jacobs & Co. CA now owns 58,655 shares of the aircraft producer’s stock valued at $7,727,000 after buying an additional 1,363 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Boeing by 35.1% in the third quarter. Fisher Asset Management LLC now owns 290,778 shares of the aircraft producer’s stock valued at $38,307,000 after buying an additional 75,528 shares during the last quarter. Naples Global Advisors LLC boosted its stake in Boeing by 1.1% in the third quarter. Naples Global Advisors LLC now owns 24,216 shares of the aircraft producer’s stock valued at $3,190,000 after buying an additional 271 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Boeing by 11.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 162,241 shares of the aircraft producer’s stock valued at $21,374,000 after buying an additional 16,881 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in Boeing by 4.2% in the third quarter. Gradient Investments LLC now owns 2,469 shares of the aircraft producer’s stock valued at $325,000 after buying an additional 100 shares during the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.
Boeing Co. (NYSE:BA) traded down 0.71% during trading on Wednesday, hitting $150.56. 3,990,972 shares of the stock were exchanged. Boeing Co. has a one year low of $102.10 and a one year high of $153.08. The company has a market cap of $92.92 billion, a price-to-earnings ratio of 23.01 and a beta of 1.02. The stock’s 50 day moving average is $142.90 and its 200-day moving average is $134.12.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.89. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The business earned $23.90 billion during the quarter, compared to the consensus estimate of $23.73 billion. During the same quarter last year, the company earned $2.52 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that Boeing Co. will post $7.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 11th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, November 8th. Boeing’s payout ratio is currently 66.36%.
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BA has been the subject of several recent analyst reports. Jefferies Group restated a “buy” rating and set a $165.00 price objective on shares of Boeing in a research report on Friday, August 19th. Credit Suisse Group AG restated a “neutral” rating and set a $148.00 price objective on shares of Boeing in a research report on Friday, September 23rd. Vetr upgraded shares of Boeing from a “sell” rating to a “hold” rating and set a $126.07 price objective for the company in a research report on Wednesday, August 31st. Citigroup Inc. cut their price objective on shares of Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, September 19th. Finally, Argus raised their price objective on shares of Boeing from $143.31 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 28th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $147.99.
In other news, EVP J Michael Luttig sold 200,754 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $142.46, for a total transaction of $28,599,414.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.58% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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