Traders Sell Boeing Co. (BA) on Strength (BA)
Investors sold shares of Boeing Co. (NYSE:BA) on strength during trading hours on Thursday. $92.75 million flowed into the stock on the tick-up and $143.61 million flowed out of the stock on the tick-down, for a money net flow of $50.86 million out of the stock. Of all stocks tracked, Boeing had the 0th highest net out-flow for the day. Boeing traded up $1.44 for the day and closed at $131.55
Several brokerages recently issued reports on BA. Jefferies Group reissued a “buy” rating and set a $165.00 price target on shares of Boeing in a report on Sunday, March 20th. Zacks Investment Research raised shares of Boeing from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Morgan Stanley began coverage on shares of Boeing in a report on Thursday, June 23rd. They set an “overweight” rating and a $153.00 price target for the company. Vetr raised shares of Boeing from a “hold” rating to a “buy” rating and set a $137.79 price target for the company in a report on Wednesday, May 4th. Finally, Societe Generale set a $140.00 price target on shares of Boeing and gave the company a “neutral” rating in a report on Thursday, April 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $149.03.
The company has a market cap of $84.33 billion and a PE ratio of 17.89. The firm’s 50-day moving average price is $129.54 and its 200 day moving average price is $127.89.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 27th. The aircraft producer reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by $0.09. The firm had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $21.90 billion. During the same period in the prior year, the business earned $1.97 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Boeing Co. will post $8.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be issued a $1.09 dividend. The ex-dividend date is Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.29%.
In related news, SVP Thomas J. Downey sold 6,047 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $134.00, for a total value of $810,298.00. Following the completion of the transaction, the senior vice president now owns 39,167 shares in the company, valued at approximately $5,248,378. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP John J. Tracy sold 22,341 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $133.60, for a total transaction of $2,984,757.60. Following the completion of the transaction, the senior vice president now owns 22,372 shares of the company’s stock, valued at approximately $2,988,899.20. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of the stock. Morgan Stanley raised its position in shares of Boeing by 8.9% in the fourth quarter. Morgan Stanley now owns 4,062,303 shares of the aircraft producer’s stock worth $587,370,000 after buying an additional 332,348 shares during the period. First National Trust Co. raised its position in shares of Boeing by 4.5% in the fourth quarter. First National Trust Co. now owns 34,645 shares of the aircraft producer’s stock worth $5,009,000 after buying an additional 1,494 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in shares of Boeing by 12.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 338,985 shares of the aircraft producer’s stock worth $49,014,000 after buying an additional 36,351 shares during the period. LSV Asset Management raised its position in shares of Boeing by 7.7% in the fourth quarter. LSV Asset Management now owns 1,856,693 shares of the aircraft producer’s stock worth $268,459,000 after buying an additional 133,403 shares during the period. Finally, MetLife Securities Inc raised its position in shares of Boeing by 87.7% in the fourth quarter. MetLife Securities Inc now owns 43,378 shares of the aircraft producer’s stock worth $6,272,000 after buying an additional 20,262 shares during the period.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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