Investors Buy Boeing Co. (BA) on Weakness
Investors purchased shares of Boeing Co. (NYSE:BA) on weakness during trading on Tuesday. $156.87 million flowed into the stock on the tick-up and $77.19 million flowed out of the stock on the tick-down, for a money net flow of $79.68 million into the stock. Of all equities tracked, Boeing had the 2nd highest net in-flow for the day. Boeing traded down ($0.85) for the day and closed at $134.14
Several equities research analysts recently weighed in on BA shares. Goldman Sachs Group Inc. set a $107.00 price target on shares of Boeing and gave the stock a “sell” rating in a research report on Thursday, July 28th. Jefferies Group restated a “buy” rating and issued a $133.53 price target (down previously from $165.00) on shares of Boeing in a research report on Friday, July 22nd. JPMorgan Chase & Co. set a $140.00 price target on shares of Boeing and gave the stock a “neutral” rating in a research report on Monday, July 4th. Morgan Stanley began coverage on shares of Boeing in a research note on Thursday, June 23rd. They set an “overweight” rating and a $153.00 price objective for the company. Finally, Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $129.80 price objective for the company in a research note on Monday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $149.92.
The company has a 50 day moving average of $132.61 and a 200-day moving average of $128.83. The company has a market cap of $83.68 billion and a price-to-earnings ratio of 24.15.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.48. The company earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same quarter in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Boeing Co. will post $6.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other news, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randall L. Stephenson acquired 1,871 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $133.89 per share, with a total value of $250,508.19. Following the purchase, the director now directly owns 3,721 shares in the company, valued at approximately $498,204.69. The disclosure for this purchase can be found here.
Other institutional investors recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Boeing by 5.1% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,645 shares of the aircraft producer’s stock valued at $1,105,000 after buying an additional 368 shares during the last quarter. Bronfman E.L. Rothschild L.P. acquired a new stake in Boeing during the fourth quarter valued at $1,208,000. Strategic Global Advisors LLC boosted its stake in Boeing by 18.0% in the fourth quarter. Strategic Global Advisors LLC now owns 8,782 shares of the aircraft producer’s stock valued at $1,270,000 after buying an additional 1,340 shares during the last quarter. Homrich & Berg boosted its stake in Boeing by 10.9% in the fourth quarter. Homrich & Berg now owns 9,235 shares of the aircraft producer’s stock valued at $1,335,000 after buying an additional 908 shares during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its stake in Boeing by 12.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 9,685 shares of the aircraft producer’s stock valued at $1,400,000 after buying an additional 1,100 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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