Municipal Employees Retirement System of Michigan lowered its holdings in Boeing Co (NYSE:BA) by 11.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,810 shares of the aircraft producer’s stock after selling 3,980 shares during the quarter. Boeing accounts for 0.4% of Municipal Employees Retirement System of Michigan’s holdings, making the stock its 22nd largest holding. Municipal Employees Retirement System of Michigan’s holdings in Boeing were worth $7,578,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of BA. Janus Henderson Group PLC raised its holdings in shares of Boeing by 7,215.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares during the period. Jennison Associates LLC raised its holdings in shares of Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares during the period. Koch Industries Inc. raised its holdings in shares of Boeing by 61,128.7% in the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after buying an additional 848,467 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Boeing by 28,537.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after buying an additional 779,936 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of Boeing by 87.8% in the 3rd quarter. APG Asset Management N.V. now owns 1,382,727 shares of the aircraft producer’s stock valued at $351,503,000 after buying an additional 646,500 shares during the period. Institutional investors own 70.87% of the company’s stock.
BA has been the topic of several research analyst reports. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a report on Tuesday, October 10th. Jefferies Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Boeing in a report on Friday, October 6th. Cowen reiterated a “buy” rating and issued a $315.00 price objective on shares of Boeing in a report on Friday, October 6th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $300.00 price objective on shares of Boeing in a report on Thursday, October 26th. Finally, Argus reissued a “buy” rating and set a $290.00 target price (up from $270.00) on shares of Boeing in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $304.10.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.51 EPS. equities research analysts predict that Boeing Co will post 10.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This is a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s dividend payout ratio is currently 52.21%.
Boeing declared that its board has initiated a stock buyback program on Monday, December 11th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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