Investors Sell Boeing Co. (BA) on Strength (BA)
Traders sold shares of Boeing Co. (NYSE:BA) on strength during trading on Wednesday. $63.75 million flowed into the stock on the tick-up and $88.88 million flowed out of the stock on the tick-down, for a money net flow of $25.13 million out of the stock. Of all equities tracked, Boeing had the 0th highest net out-flow for the day. Boeing traded up $0.06 for the day and closed at $134.72
Several research analysts have recently issued reports on BA shares. JPMorgan Chase & Co. set a $140.00 price target on shares of Boeing and gave the stock a “neutral” rating in a report on Monday, July 4th. Vetr downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $138.34 price target for the company. in a report on Tuesday, April 26th. Drexel Hamilton reissued a “buy” rating and issued a $158.00 price objective on shares of Boeing in a research note on Thursday, April 28th. Jefferies Group reissued a “buy” rating on shares of Boeing in a research note on Tuesday, May 31st. Finally, Argus boosted their price objective on shares of Boeing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, April 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $149.03.
The company’s 50 day moving average is $130.05 and its 200-day moving average is $127.63. The stock has a market capitalization of $85.82 billion and a PE ratio of 18.21.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 27th. The aircraft producer reported $1.74 earnings per share 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 quarter last year, the firm earned $1.97 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Boeing Co. will post $8.49 earnings per share 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 paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other Boeing news, SVP John J. Tracy sold 22,341 shares of Boeing stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $133.60, for a total value of $2,984,757.60. Following the completion of the transaction, the senior vice president now directly owns 22,372 shares of the company’s stock, valued at $2,988,899.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randall L. Stephenson bought 1,850 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was purchased at an average cost of $132.15 per share, with a total value of $244,477.50. Following the completion of the acquisition, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $244,477.50. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Stonebridge Capital Advisors LLC boosted its position in shares of Boeing by 7.9% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 33,674 shares of the aircraft producer’s stock valued at $4,869,000 after buying an additional 2,474 shares during the period. State of Alaska Department of Revenue boosted its position in Boeing by 82.5% in the fourth quarter. State of Alaska Department of Revenue now owns 38,700 shares of the aircraft producer’s stock valued at $5,595,000 after buying an additional 17,490 shares during the last quarter. Copeland Capital Management LLC boosted its position in Boeing by 142.9% in the fourth quarter. Copeland Capital Management LLC now owns 12,687 shares of the aircraft producer’s stock valued at $1,834,000 after buying an additional 7,463 shares during the last quarter. California Public Employees Retirement System boosted its position in Boeing by 0.4% in the fourth quarter. California Public Employees Retirement System now owns 1,823,142 shares of the aircraft producer’s stock valued at $263,608,000 after buying an additional 7,800 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Boeing by 19.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 93,650 shares of the aircraft producer’s stock valued at $13,541,000 after buying an additional 15,200 shares during the last quarter.
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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