Braun Stacey Associates Inc. Reduces Holdings in Boeing Co (BA)

Braun Stacey Associates Inc. reduced its position in Boeing Co (NYSE:BA) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,553 shares of the aircraft producer’s stock after selling 3,762 shares during the quarter. Boeing makes up approximately 1.2% of Braun Stacey Associates Inc.’s portfolio, making the stock its 19th biggest position. Braun Stacey Associates Inc.’s holdings in Boeing were worth $15,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Boeing by 15.1% during the third quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock worth $3,174,259,000 after buying an additional 1,119,587 shares in the last quarter. Capital International Investors grew its position in shares of Boeing by 26.1% during the third quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock worth $1,802,956,000 after buying an additional 1,002,825 shares in the last quarter. Winslow Capital Management LLC grew its position in shares of Boeing by 50.1% during the third quarter. Winslow Capital Management LLC now owns 1,217,030 shares of the aircraft producer’s stock worth $452,613,000 after buying an additional 406,078 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Boeing by 240.8% during the third quarter. Canada Pension Plan Investment Board now owns 532,010 shares of the aircraft producer’s stock worth $197,855,000 after buying an additional 375,900 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Boeing by 145.6% during the third quarter. SG Americas Securities LLC now owns 104,870 shares of the aircraft producer’s stock worth $39,001,000 after buying an additional 334,955 shares in the last quarter. 69.68% of the stock is owned by institutional investors.

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Shares of BA opened at $435.44 on Thursday. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. The company has a market capitalization of $241.12 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. Boeing Co has a 52-week low of $292.47 and a 52-week high of $436.33.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.52 by $0.96. The firm had revenue of $28.34 billion during 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 quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 earnings per share. On average, sell-side analysts predict that Boeing Co will post 20.13 EPS for the current fiscal year.

Boeing announced that its Board of Directors has authorized a share buyback plan on Monday, December 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the aircraft producer to buy up to 11.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be issued a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a yield of 1.89%. This is an increase from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date is Thursday, February 7th. Boeing’s dividend payout ratio is 51.34%.

In other Boeing news, SVP Heidi B. Capozzi sold 2,916 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy John Keating sold 26,557 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The disclosure for this sale can be found here. Insiders sold 72,247 shares of company stock valued at $28,922,977 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on BA. JPMorgan Chase & Co. boosted their price objective on Boeing to $450.00 and gave the stock an “overweight” rating in a research report on Monday, February 11th. Sanford C. Bernstein reissued an “outperform” rating and set a $459.00 price objective (up from $435.00) on shares of Boeing in a research report on Tuesday, February 5th. Credit Suisse Group reissued an “outperform” rating and set a $440.00 price objective (up from $434.00) on shares of Boeing in a research report on Thursday, January 31st. Robert W. Baird reissued an “outperform” rating and set a $470.00 price objective on shares of Boeing in a research report on Thursday, January 31st. Finally, Jefferies Financial Group boosted their price objective on Boeing to $448.00 and gave the stock a “buy” rating in a research report on Monday, February 4th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $413.27.

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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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