Janney Capital Management LLC Raises Position in Boeing Co (BA)
Janney Capital Management LLC increased its position in shares of Boeing Co (NYSE:BA) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,759 shares of the aircraft producer’s stock after acquiring an additional 130 shares during the period. Janney Capital Management LLC’s holdings in Boeing were worth $890,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. First Republic Investment Management Inc. grew its position in shares of Boeing by 1.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 283,170 shares of the aircraft producer’s stock valued at $105,311,000 after buying an additional 4,119 shares during the last quarter. Capital International Inc. CA grew its position in shares of Boeing by 150.8% in the 3rd quarter. Capital International Inc. CA now owns 3,210 shares of the aircraft producer’s stock valued at $1,194,000 after buying an additional 1,930 shares during the last quarter. Strategic Advisors LLC grew its position in shares of Boeing by 20.0% in the 3rd quarter. Strategic Advisors LLC now owns 5,067 shares of the aircraft producer’s stock valued at $1,885,000 after buying an additional 843 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Boeing by 1.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 29,796 shares of the aircraft producer’s stock valued at $11,081,000 after buying an additional 364 shares during the last quarter. Finally, Sageworth Trust Co grew its position in shares of Boeing by 605.0% in the 3rd quarter. Sageworth Trust Co now owns 1,128 shares of the aircraft producer’s stock valued at $427,000 after buying an additional 968 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.
In related news, SVP Theodore Colbert III sold 2,137 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $408.85, for a total transaction of $873,712.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Heidi B. Capozzi sold 2,916 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $410.84, for a total value of $1,198,009.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,247 shares of company stock worth $28,922,977. 0.24% of the stock is owned by company insiders.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.96. The company had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. On average, equities research analysts forecast that Boeing Co will post 20.13 EPS for the current fiscal year.
Boeing declared that its board has authorized a share repurchase program on Monday, December 17th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to repurchase up to 11.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 8th were paid a dividend of $2.055 per share. This is an increase from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, February 7th. Boeing’s dividend payout ratio is 51.34%.
A number of equities research analysts have commented on BA shares. Tigress Financial reiterated a “buy” rating on shares of Boeing in a research report on Monday, November 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 price target on shares of Boeing in a research report on Thursday, December 6th. Cowen reiterated a “buy” rating and issued a $445.00 price target on shares of Boeing in a research report on Tuesday, December 18th. Credit Suisse Group reiterated a “buy” rating and issued a $456.00 price target on shares of Boeing in a research report on Tuesday, December 18th. Finally, ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Boeing has a consensus rating of “Buy” and an average price target of $409.94.
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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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