Zions Bancorporation increased its position in Boeing Co (NYSE:BA) by 48.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. 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 acquiring an additional 4,852,679 shares during the period. 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 acquiring an additional 1,160,859 shares during the period. Koch Industries Inc. lifted its holdings in shares of Boeing by 61,128.7% during the second quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after acquiring an additional 848,467 shares during the period. Stifel Financial Corp lifted its holdings in shares of Boeing by 19,958.0% during the third quarter. Stifel Financial Corp now owns 833,410 shares of the aircraft producer’s stock valued at $212,108,000 after acquiring an additional 829,255 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Boeing by 28,537.7% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after acquiring an additional 779,936 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.
BA has been the subject of a number of analyst reports. Royal Bank of Canada set a $290.00 price objective on Boeing and gave the company a “hold” rating in a report on Wednesday, November 15th. Jefferies Group lifted their price objective on Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $263.71 price objective for the company. in a report on Friday, December 1st. ValuEngine lowered Boeing from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $290.00 target price (up from $270.00) on shares of Boeing in a research note on Tuesday, December 12th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $358.47.
Shares of Boeing Co (NYSE BA) opened at $338.67 on Wednesday. The company has a market capitalization of $202,552.47, a PE ratio of 28.49, a P/E/G ratio of 1.78 and a beta of 1.37. Boeing Co has a 12-month low of $173.75 and a 12-month high of $371.60. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 EPS. analysts anticipate that Boeing Co will post 14.05 EPS for the current year.
Boeing declared that its board has initiated a stock buyback program on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are 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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