Scotia Capital Inc. Trims Stake in Boeing Co (NYSE:BA)

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Scotia Capital Inc. cut its position in Boeing Co (NYSE:BA) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,807 shares of the aircraft producer’s stock after selling 12,012 shares during the quarter. Scotia Capital Inc.’s holdings in Boeing were worth $29,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. NuWave Investment Management LLC raised its holdings in Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Boeing by 128.1% during the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after buying an additional 41 shares in the last quarter. Guidant Wealth Advisors purchased a new position in shares of Boeing during the 2nd quarter worth approximately $28,000. Next Capital Management LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at approximately $42,000. Finally, Clarfeld Financial Advisors LLC acquired a new stake in shares of Boeing in the 4th quarter valued at approximately $40,000. 67.98% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on BA shares. Goldman Sachs Group reaffirmed a “neutral” rating and set a $375.00 price objective on shares of Boeing in a report on Friday, July 12th. UBS Group set a $470.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Berenberg Bank restated a “buy” rating and set a $400.00 target price on shares of Boeing in a research report on Tuesday, August 6th. Finally, Bank of America set a $420.00 target price on shares of Boeing and gave the company a “hold” rating in a report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $402.65.

Shares of NYSE:BA traded up $12.36 during midday trading on Wednesday, reaching $381.85. The company’s stock had a trading volume of 665,301 shares, compared to its average volume of 3,973,846. The firm has a market cap of $201.89 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 10.62 and a beta of 1.25. The business has a 50 day moving average price of $347.36 and a 200 day moving average price of $366.66. Boeing Co has a 1 year low of $292.47 and a 1 year 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.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The company had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.05 billion. During the same quarter last year, the firm posted $3.33 earnings per share. Boeing’s revenue was down 35.1% on a year-over-year basis. Sell-side analysts anticipate that Boeing Co will post 4.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 9th were given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Thursday, August 8th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

Boeing Company Profile

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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