Boeing Co. (BA) Shares Gap Up to $129.90
Shares of Boeing Co. (NYSE:BA) gapped up before the market opened on Friday . The stock had previously closed at $129.21, but opened at $129.90. Boeing shares last traded at $131.03, with a volume of 1,357,957 shares changing hands.
Several brokerages have recently issued reports on BA. Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $126.07 price target on the stock in a research report on Wednesday. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the company a “sell” rating in a research report on Tuesday, August 30th. Canaccord Genuity reiterated a “hold” rating and set a $144.00 price target on shares of Boeing in a research report on Thursday, August 25th. Jefferies Group reiterated a “buy” rating and set a $165.00 price target on shares of Boeing in a research report on Friday, August 19th. Finally, Argus reiterated a “buy” rating and set a $155.00 price target on shares of Boeing in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Boeing currently has a consensus rating of “Hold” and an average price target of $149.74.
The stock’s 50-day moving average is $133.09 and its 200 day moving average is $129.50. The stock has a market cap of $81.82 billion and a PE ratio of 23.61.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. The firm had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. Boeing’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Equities research analysts anticipate that Boeing Co. will post $6.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders 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 yield of 3.32%. The ex-dividend date was Wednesday, August 10th.
In other Boeing news, Director Randall L. Stephenson acquired 1,871 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was bought at an average cost of $133.89 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of BA. Homrich & Berg increased its position in Boeing by 10.9% in the fourth quarter. Homrich & Berg now owns 9,235 shares of the aircraft producer’s stock worth $1,335,000 after buying an additional 908 shares in the last quarter. Matarin Capital Management LLC acquired a new position in Boeing during the fourth quarter worth approximately $2,515,000. Stephens Inc. AR increased its position in Boeing by 1.9% in the fourth quarter. Stephens Inc. AR now owns 23,606 shares of the aircraft producer’s stock worth $3,413,000 after buying an additional 435 shares in the last quarter. Redwood Investments LLC increased its position in 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. Finally, KBC Group NV increased its position in 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.
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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