FDx Advisors Inc. decreased its position in Boeing Co (NYSE:BA) by 14.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,013 shares of the aircraft producer’s stock after selling 2,084 shares during the quarter. FDx Advisors Inc.’s holdings in Boeing were worth $3,054,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Boeing by 1.0% during the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after purchasing an additional 407,511 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Boeing by 20.3% during the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after purchasing an additional 1,160,859 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Boeing by 7,215.0% during the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Boeing by 15.5% during the third quarter. American Century Companies Inc. now owns 3,106,855 shares of the aircraft producer’s stock valued at $789,794,000 after purchasing an additional 417,793 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Boeing by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after purchasing an additional 123,420 shares during the last quarter. Institutional investors and hedge funds own 70.87% of the company’s stock.
Shares of Boeing Co (NYSE BA) opened at $335.16 on Wednesday. The stock has a market capitalization of $199,610.00, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. Boeing Co has a fifty-two week low of $156.75 and a fifty-two week high of $347.73.
Boeing announced that its Board of Directors has approved a share buyback program on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio (DPR) is 52.25%.
Several equities research analysts recently issued reports on BA shares. Royal Bank of Canada set a $290.00 price objective on Boeing and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group increased their price objective on Boeing from $300.00 to $312.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $289.00 price objective for the company in a research note on Tuesday, October 10th. Finally, ValuEngine downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Boeing has an average rating of “Buy” and a consensus target price of $298.63.
Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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