Investors Sell Shares of Boeing Co. (BA) on Strength (BA)
Traders sold shares of Boeing Co. (NYSE:BA) on strength during trading hours on Monday. $61.16 million flowed into the stock on the tick-up and $87.38 million flowed out of the stock on the tick-down, for a money net flow of $26.22 million out of the stock. Of all stocks tracked, Boeing had the 0th highest net out-flow for the day. Boeing traded up $0.67 for the day and closed at $132.90
Several brokerages have weighed in on BA. Canaccord Genuity reaffirmed a “hold” rating and set a $144.00 target price on shares of Boeing in a research note on Thursday, August 25th. Vetr downgraded Boeing from a “hold” rating to a “sell” rating and set a $126.07 target price on the stock. in a research note on Wednesday, August 24th. Jefferies Group reaffirmed a “buy” rating and set a $165.00 target price on shares of Boeing in a research note on Friday, August 19th. Argus reaffirmed a “buy” rating and set a $155.00 target price on shares of Boeing in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $145.00 price target on shares of Boeing in a research report on Sunday, July 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $149.74.
The firm has a 50 day moving average price of $133.18 and a 200 day moving average price of $129.32. The company has a market capitalization of $82.91 billion and a P/E ratio of 23.92.
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, beating the Zacks’ consensus estimate of ($0.92) by $0.48. During the same period last year, the company earned $1.62 EPS. The company earned $24.80 million during the quarter, compared to analyst estimates of $23.22 million. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts expect that Boeing Co. will post $6.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Wednesday, August 10th.
In related news, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $133.06, for a total value of $1,882,932.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Randall L. Stephenson acquired 1,871 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average price of $133.89 per share, with a total value of $250,508.19. Following the transaction, the director now owns 3,721 shares in the company, valued at $498,204.69. The disclosure for this purchase can be found here.
A number of institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Boeing by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,957,081 shares of the aircraft producer’s stock worth $1,005,925,000 after buying an additional 59,454 shares during the period. Suntrust Banks Inc. boosted its position in Boeing by 51.7% in the fourth quarter. Suntrust Banks Inc. now owns 122,771 shares of the aircraft producer’s stock worth $17,749,000 after buying an additional 41,844 shares during the period. Eaton Vance Management boosted its position in Boeing by 1.4% in the fourth quarter. Eaton Vance Management now owns 1,368,021 shares of the aircraft producer’s stock worth $197,802,000 after buying an additional 18,913 shares during the period. US Bancorp DE boosted its position in Boeing by 1.2% in the fourth quarter. US Bancorp DE now owns 709,605 shares of the aircraft producer’s stock worth $102,600,000 after buying an additional 8,579 shares during the period. Finally, Pittenger & Anderson Inc. boosted its position in Boeing by 7.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 21,265 shares of the aircraft producer’s stock worth $3,075,000 after buying an additional 1,400 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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