Spearhead Capital Advisors LLC Grows Position in Boeing Co (NYSE:BA)
Spearhead Capital Advisors LLC boosted its stake in Boeing Co (NYSE:BA) by 8.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,186 shares of the aircraft producer’s stock after buying an additional 878 shares during the quarter. Spearhead Capital Advisors LLC’s holdings in Boeing were worth $4,072,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position 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 valued at $28,000 after purchasing an additional 41 shares during the last quarter. Next Capital Management LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $32,000. Clarfeld Financial Advisors LLC purchased a new stake in Boeing in the 4th quarter worth about $40,000. 1 North Wealth Services LLC purchased a new stake in Boeing in the 4th quarter worth about $40,000. Finally, Semmax Financial Advisors Inc. purchased a new stake in Boeing in the 4th quarter worth about $45,000. 67.92% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on BA shares. Bank of America set a $420.00 price objective on Boeing and gave the stock a “hold” rating in a report on Thursday, June 27th. Citigroup set a $12.00 price objective on Controladora Vuela Co Avcn SA CV and gave the stock a “buy” rating in a report on Monday, July 15th. Wolfe Research lowered Boeing from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $404.00 to $393.00 in a report on Thursday. Zacks Investment Research raised Grana y Montero SAA from a “sell” rating to a “hold” rating in a report on Monday, June 10th. Finally, Cowen set a $460.00 price objective on Boeing and gave the stock a “buy” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $403.79.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. The firm had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The company’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same quarter last year, the company posted $3.33 EPS. Analysts expect that Boeing Co will post 10.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 9th will be given a dividend of $2.055 per share. The ex-dividend date is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.38%. Boeing’s dividend payout ratio (DPR) is presently 51.34%.
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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