Hanson & Doremus Investment Management Sells 312 Shares of Boeing Co (NYSE:BA)

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Hanson & Doremus Investment Management lessened its stake in shares of Boeing Co (NYSE:BA) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,127 shares of the aircraft producer’s stock after selling 312 shares during the quarter. Boeing comprises about 1.1% of Hanson & Doremus Investment Management’s investment portfolio, making the stock its 15th biggest holding. Hanson & Doremus Investment Management’s holdings in Boeing were worth $3,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BA. 1 North Wealth Services LLC bought a new position in Boeing in the 3rd quarter worth $32,000. Atwater Malick LLC purchased a new stake in Boeing in the third quarter worth about $39,000. Transamerica Financial Advisors Inc. purchased a new stake in Boeing in the second quarter worth about $40,000. Veritas Investment Management LLP bought a new position in shares of Boeing in the third quarter worth about $40,000. Finally, Selective Wealth Management Inc. bought a new position in shares of Boeing in the third quarter worth about $44,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

NYSE BA traded up $1.22 during trading hours on Thursday, reaching $331.02. The company’s stock had a trading volume of 1,733,752 shares, compared to its average volume of 5,691,366. The firm’s 50-day moving average price is $339.54 and its 200-day moving average price is $354.15. Boeing Co has a 1 year low of $319.55 and a 1 year high of $446.01. The company has a market capitalization of $187.04 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.68 and a beta of 1.19.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.59). Boeing had a negative return on equity of 367.68% and a net margin of 4.37%. The business had revenue of $19.98 billion during the quarter, compared to analysts’ expectations of $20 billion. During the same period in the prior year, the firm posted $3.58 earnings per share. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis. Sell-side analysts anticipate that Boeing Co will post 0.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be issued a $2.055 dividend. The ex-dividend date is Thursday, February 13th. This represents a $8.22 dividend on an annualized basis and a yield of 2.48%. Boeing’s dividend payout ratio is presently 51.34%.

A number of research analysts have recently weighed in on BA shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $324.00 price objective on shares of Boeing in a research report on Wednesday, January 8th. JPMorgan Chase & Co. set a $370.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday, December 17th. Bank of America lowered their price objective on Boeing from $370.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Jefferies Financial Group set a $420.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Barclays reaffirmed an “equal weight” rating and set a $353.00 price objective (down from $367.00) on shares of Boeing in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $362.88.

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

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