Keybank National Association OH lowered its position in shares of Boeing Co (NYSE:BA) by 11.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,730 shares of the aircraft producer’s stock after selling 9,685 shares during the quarter. Keybank National Association OH’s holdings in Boeing were worth $29,193,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in BA. Vanguard Group Inc. grew its position in shares of Boeing by 0.7% in the second quarter. Vanguard Group Inc. now owns 40,214,155 shares of the aircraft producer’s stock valued at $14,638,355,000 after purchasing an additional 275,250 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 7.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock valued at $13,009,918,000 after purchasing an additional 2,607,364 shares in the last quarter. BlackRock Inc. grew its position in shares of Boeing by 0.8% in the second quarter. BlackRock Inc. now owns 34,081,637 shares of the aircraft producer’s stock valued at $12,406,056,000 after purchasing an additional 264,410 shares in the last quarter. Newport Trust Co grew its position in shares of Boeing by 1.0% in the second quarter. Newport Trust Co now owns 30,669,091 shares of the aircraft producer’s stock valued at $11,163,856,000 after purchasing an additional 298,466 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in shares of Boeing by 36,928.2% in the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock valued at $623,555,000 after purchasing an additional 6,218,711 shares in the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.
BA has been the subject of a number of analyst reports. Buckingham Research restated a “hold” rating and issued a $365.00 price target (down from $395.00) on shares of Boeing in a research report on Tuesday, October 29th. Morgan Stanley lowered their price objective on Boeing from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Berenberg Bank reiterated a “buy” rating and issued a $410.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Finally, Cowen set a $460.00 price objective on Boeing and gave the stock a “buy” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $379.30.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.59). The company had revenue of $19.98 billion during the quarter, compared to analyst estimates of $20 billion. Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The firm’s revenue was down 20.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.58 earnings per share. On average, analysts expect that Boeing Co will post 1.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $2.055 dividend. This represents a $8.22 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, November 7th. Boeing’s payout ratio is currently 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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