Westpac Banking Corp Reduces Holdings in Boeing Company (The) (BA)

Westpac Banking Corp reduced its position in Boeing Company (The) (NYSE:BA) by 69.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,564 shares of the aircraft producer’s stock after selling 157,727 shares during the quarter. Westpac Banking Corp’s holdings in Boeing Company (The) were worth $13,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake in shares of Boeing Company (The) by 3.0% in the 1st quarter. Trust Co. of Vermont now owns 19,514 shares of the aircraft producer’s stock valued at $3,451,000 after buying an additional 566 shares during the period. Accuvest Global Advisors boosted its stake in shares of Boeing Company (The) by 5,948.8% in the 1st quarter. Accuvest Global Advisors now owns 2,480 shares of the aircraft producer’s stock valued at $439,000 after buying an additional 2,439 shares during the period. Nottingham Advisors Inc. purchased a new position in shares of Boeing Company (The) in the 1st quarter valued at about $248,000. LS Investment Advisors LLC boosted its stake in shares of Boeing Company (The) by 6.9% in the 1st quarter. LS Investment Advisors LLC now owns 16,969 shares of the aircraft producer’s stock valued at $3,001,000 after buying an additional 1,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Boeing Company (The) by 18.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 317,463 shares of the aircraft producer’s stock valued at $56,147,000 after buying an additional 48,921 shares during the period. 71.99% of the stock is owned by institutional investors.

Boeing Company (NYSE BA) opened at $262.42 on Tuesday. Boeing Company has a twelve month low of $144.46 and a twelve month high of $267.62. The firm has a market capitalization of $155,356.66, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.99 and a beta of 1.22. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54.

Boeing Company (The) (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.07. Boeing Company (The) had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion for the quarter, compared to analyst estimates of $24.09 billion. During the same quarter in the prior year, the company posted $3.51 earnings per share. Boeing Company (The)’s quarterly revenue was up 1.7% on a year-over-year basis. analysts expect that Boeing Company will post 10.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, November 9th. This represents a $5.68 dividend on an annualized basis and a yield of 2.16%. Boeing Company (The)’s payout ratio is 52.21%.

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BA has been the subject of several recent analyst reports. Vetr cut Boeing Company (The) from a “hold” rating to a “sell” rating and set a $223.75 target price for the company. in a research note on Wednesday, July 26th. Zacks Investment Research cut Boeing Company (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Cowen and Company restated a “buy” rating and set a $315.00 target price on shares of Boeing Company (The) in a research note on Thursday, October 26th. ValuEngine upgraded Boeing Company (The) from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Credit Suisse Group upgraded Boeing Company (The) from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $300.00 in a research note on Thursday, July 27th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $256.68.

About Boeing Company (The)

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

Institutional Ownership by Quarter for Boeing Company (The) (NYSE:BA)

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