Investors Sell Shares of Boeing Co. (BA) on Strength (BA)
Traders sold shares of Boeing Co. (NYSE:BA) on strength during trading on Thursday. $65.30 million flowed into the stock on the tick-up and $97.05 million flowed out of the stock on the tick-down, for a money net flow of $31.75 million out of the stock. Of all stocks tracked, Boeing had the 0th highest net out-flow for the day. Boeing traded up $0.45 for the day and closed at $129.90
BA has been the subject of several recent analyst reports. Vetr cut Boeing from a “buy” rating to a “hold” rating and set a $138.03 price target for the company. in a report on Monday, May 9th. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the company a “sell” rating in a report on Tuesday. Jefferies Group restated a “buy” rating and issued a $165.00 price target on shares of Boeing in a report on Friday, August 19th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $145.00 price target on shares of Boeing in a report on Sunday, July 31st. Finally, Canaccord Genuity restated a “hold” rating and issued a $144.00 price target on shares of Boeing in a report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. Boeing has an average rating of “Hold” and an average target price of $149.74.
The company has a market capitalization of $81.82 billion and a PE ratio of 23.61. The company has a 50-day moving average price of $133.09 and a 200 day moving average price of $129.50.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.48. During the same period in the previous year, the company earned $1.62 earnings per share. The firm 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% on a year-over-year basis. Analysts anticipate that Boeing Co. will post $6.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Wednesday, August 10th.
In related news, Director Randall L. Stephenson acquired 1,871 shares of the stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $133.89 per share, with a total value of $250,508.19. Following the acquisition, the director now owns 3,721 shares in the company, valued at approximately $498,204.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. I.G. Investment Management LTD. raised its position in shares of Boeing by 3.6% in the fourth quarter. I.G. Investment Management LTD. now owns 1,661,814 shares of the aircraft producer’s stock worth $240,282,000 after buying an additional 58,304 shares in the last quarter. Redwood Investments LLC raised its position in shares of Boeing by 117,226.6% in the fourth quarter. Redwood Investments LLC now owns 92,688 shares of the aircraft producer’s stock worth $13,402,000 after buying an additional 92,609 shares in the last quarter. American International Group Inc. raised its position in shares of Boeing by 0.3% in the fourth quarter. American International Group Inc. now owns 276,262 shares of the aircraft producer’s stock worth $39,944,000 after buying an additional 701 shares in the last quarter. KBC Group NV raised its position in shares of Boeing by 0.5% in the fourth quarter. KBC Group NV now owns 152,009 shares of the aircraft producer’s stock worth $21,979,000 after buying an additional 694 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of Boeing by 7.9% in the fourth quarter. State of Tennessee Treasury Department now owns 579,295 shares of the aircraft producer’s stock worth $83,760,000 after buying an additional 42,408 shares in 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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