McIlrath & Eck LLC lessened its holdings in shares of Boeing Co (NYSE:BA) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,446 shares of the aircraft producer’s stock after selling 178 shares during the quarter. Boeing comprises 0.3% of McIlrath & Eck LLC’s investment portfolio, making the stock its 18th largest position. McIlrath & Eck LLC’s holdings in Boeing were worth $550,000 as of its most recent SEC filing.
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Other institutional investors and hedge funds have also modified their holdings of the company. Claraphi Advisory Network LLC lifted its holdings in Boeing by 3.6% in the second quarter. Claraphi Advisory Network LLC now owns 2,943 shares of the aircraft producer’s stock valued at $1,071,000 after acquiring an additional 103 shares during the period. Dupont Capital Management Corp increased its position in Boeing by 0.3% in the second quarter. Dupont Capital Management Corp now owns 45,420 shares of the aircraft producer’s stock worth $16,533,000 after buying an additional 125 shares in the last quarter. Corrado Advisors LLC increased its position in Boeing by 4.1% in the second quarter. Corrado Advisors LLC now owns 7,901 shares of the aircraft producer’s stock worth $2,876,000 after buying an additional 310 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Boeing by 1,405.4% in the second quarter. Cubist Systematic Strategies LLC now owns 30,830 shares of the aircraft producer’s stock worth $11,222,000 after buying an additional 28,782 shares in the last quarter. Finally, Greenleaf Trust increased its position in Boeing by 6.3% in the second quarter. Greenleaf Trust now owns 5,782 shares of the aircraft producer’s stock worth $2,105,000 after buying an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 67.72% of the company’s stock.
Shares of NYSE:BA traded up $4.24 on Friday, reaching $371.68. The company had a trading volume of 5,012,690 shares, compared to its average volume of 6,171,135. Boeing Co has a 52-week low of $292.47 and a 52-week high of $446.01. The firm’s 50 day simple moving average is $360.57 and its 200-day simple moving average is $358.08. The firm has a market capitalization of $206.79 billion, a PE ratio of 23.22, a PEG ratio of 44.26 and a beta of 1.24. The company has a current ratio of 1.11, a quick ratio of 0.31 and a debt-to-equity ratio of 48.98.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.59). Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The company had revenue of $19.98 billion during the quarter, compared to analysts’ expectations of $20 billion. During the same quarter in the prior year, the business posted $3.58 earnings per share. The company’s revenue was down 20.5% compared to the same quarter last year. As a group, equities research analysts predict that Boeing Co will post 1.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $8.22 annualized dividend and a yield of 2.21%. Boeing’s dividend payout ratio (DPR) is 51.34%.
A number of brokerages have commented on BA. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Credit Suisse Group cut Boeing from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $416.00 to $323.00 in a research report on Monday, October 21st. Wolfe Research cut Boeing from an “outperform” rating to a “peer perform” rating and cut their target price for the stock from $404.00 to $393.00 in a research report on Thursday, July 25th. Finally, Canaccord Genuity cut their target price on Boeing from $380.00 to $370.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. Boeing has an average rating of “Hold” and a consensus price target of $379.30.
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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