Merriman Wealth Management LLC Decreases Position in Boeing Co (NYSE:BA)

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Merriman Wealth Management LLC lessened its holdings in Boeing Co (NYSE:BA) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,844 shares of the aircraft producer’s stock after selling 125 shares during the quarter. Merriman Wealth Management LLC’s holdings in Boeing were worth $1,370,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its position in shares of Boeing by 26.5% during the 1st quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock worth $4,211,577,000 after purchasing an additional 2,311,630 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boeing by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock worth $2,015,856,000 after purchasing an additional 214,945 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Boeing by 36,928.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock worth $623,555,000 after purchasing an additional 6,218,711 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Boeing by 0.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,575,193 shares of the aircraft producer’s stock worth $2,029,440,000 after purchasing an additional 21,663 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Boeing by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,125,835 shares of the aircraft producer’s stock worth $363,082,000 after purchasing an additional 14,472 shares during the last quarter. 68.65% of the stock is owned by institutional investors.

NYSE:BA traded up $0.32 during midday trading on Tuesday, hitting $333.26. 2,867,397 shares of the company were exchanged, compared to its average volume of 5,028,821. The stock has a fifty day moving average of $354.36. Boeing Co has a fifty-two week low of $292.47 and a fifty-two week high of $446.01. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98. The firm has a market capitalization of $189.94 billion, a P/E ratio of 20.82, a PEG ratio of 10.29 and a beta of 1.27.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.33 earnings per share. On average, equities analysts anticipate that Boeing Co will post 3.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be paid a $2.055 dividend. The ex-dividend date is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a yield of 2.47%. Boeing’s dividend payout ratio is presently 51.34%.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $375.00 price objective on shares of Boeing in a research report on Friday, July 12th. Citigroup set a $430.00 price objective on shares of Boeing and gave the stock a “buy” rating in a research report on Monday, July 15th. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Barclays cut shares of Boeing from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $417.00 to $367.00 in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Boeing currently has a consensus rating of “Hold” and an average price target of $403.10.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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