Zions Bancorporation boosted its position in shares of Boeing Co (NYSE:BA) by 48.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,659 shares of the aircraft producer’s stock after purchasing an additional 864 shares during the quarter. Zions Bancorporation’s holdings in Boeing were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Lipe & Dalton bought a new stake in Boeing during the 3rd quarter worth about $100,000. Burt Wealth Advisors bought a new stake in Boeing during the 3rd quarter worth about $100,000. Clear Perspective Advisors LLC raised its holdings in Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings in Boeing by 11.1% during the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after purchasing an additional 84 shares during the last quarter. Finally, CWH Capital Management Inc. bought a new stake in Boeing during the 2nd quarter worth about $134,000. 76.55% of the stock is owned by hedge funds and other institutional investors.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.28% of the company’s stock.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same quarter in the prior year, the firm posted $2.47 EPS. The business’s revenue was up 8.9% on a year-over-year basis. sell-side analysts expect that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its board has authorized a share repurchase program on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages have recently commented on BA. Buckingham Research set a $289.00 price target on Boeing and gave the company a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target for the company in a research note on Tuesday, January 2nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $345.00 price target (up from $290.00) on shares of Boeing in a research note on Thursday, February 1st. Robert W. Baird set a $433.00 price target on Boeing and gave the company a “buy” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 price target on Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $358.47.
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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