Boeing Co. (BA) Shares Gap Up to $134.85
Shares of Boeing Co. (NYSE:BA) gapped up prior to trading on Wednesday . The stock had previously closed at $133.81, but opened at $134.85. Boeing shares last traded at $136.45, with a volume of 3,547,609 shares.
A number of analysts have recently weighed in on BA shares. JPMorgan Chase & Co. set a $140.00 price objective on shares of Boeing and gave the stock a “neutral” rating in a research note on Monday, July 4th. Vetr lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $138.34 price target on the stock. in a research report on Tuesday, April 26th. Drexel Hamilton restated a “buy” rating and set a $158.00 price target on shares of Boeing in a research report on Thursday, April 28th. Goldman Sachs Group Inc. set a $100.00 price target on shares of Boeing and gave the company a “sell” rating in a research report on Friday, July 22nd. Finally, Jefferies Group restated a “buy” rating on shares of Boeing in a research report on Tuesday, May 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. Boeing presently has a consensus rating of “Hold” and an average price target of $147.66.
The company has a 50-day moving average price of $130.80 and a 200 day moving average price of $127.54. The stock has a market cap of $86.61 billion and a P/E ratio of 18.37.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.15 by $2.59. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $23.22 million. During the same quarter in the previous year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Boeing Co. will post $5.34 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.21%.
In related news, SVP John J. Tracy sold 22,341 shares of the 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 sale, the senior vice president now directly owns 22,372 shares of the company’s stock, valued at approximately $2,988,899.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Downey sold 6,047 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $134.00, for a total transaction of $810,298.00. Following the completion of the sale, the senior vice president now directly owns 39,167 shares in the company, valued at $5,248,378. The disclosure for this sale can be found here.
Other large investors have modified their holdings of the company. Calamos Wealth Management LLC boosted its stake in shares of Boeing by 7.2% in the fourth quarter. Calamos Wealth Management LLC now owns 31,869 shares of the aircraft producer’s stock worth $4,608,000 after buying an additional 2,127 shares during the last quarter. Hallmark Capital Management Inc. purchased a new position in Boeing during the fourth quarter worth about $1,142,000. Stevens Capital Management LP purchased a new position in Boeing during the fourth quarter worth about $6,949,000. Comerica Bank raised its position in Boeing by 0.5% in the fourth quarter. Comerica Bank now owns 225,501 shares of the aircraft producer’s stock worth $29,314,000 after buying an additional 1,028 shares during the period. Finally, Profund Advisors LLC raised its position in Boeing by 38.6% in the fourth quarter. Profund Advisors LLC now owns 21,640 shares of the aircraft producer’s stock worth $3,129,000 after buying an additional 6,029 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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