Boeing Co. (BA) Shares Gap Down to $129.90
Boeing Co. (NYSE:BA) shares gapped down before the market opened on Monday . The stock had previously closed at $129.35, but opened at $129.90. Boeing shares last traded at $131.16, with a volume of 2,631,000 shares traded.
BA has been the topic of several research analyst reports. Vetr lowered Boeing from a “buy” rating to a “hold” rating and set a $138.03 price target on the stock. in a research report on Monday, May 9th. Goldman Sachs Group Inc. set a $107.00 target price on Boeing and gave the company a “sell” rating in a report on Tuesday, August 30th. Jefferies Group reissued a “buy” rating and issued a $165.00 target price on shares of Boeing in a report on Friday, August 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $145.00 target price on shares of Boeing in a report on Sunday, July 31st. Finally, Canaccord Genuity reissued a “hold” rating and issued a $144.00 target price on shares of Boeing in a report on Thursday, August 25th. Two research 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. The stock has a consensus rating of “Hold” and a consensus price target of $149.74.
The stock has a market capitalization of $81.82 billion and a P/E ratio of 23.61. The company has a 50 day moving average of $133.09 and a 200 day moving average of $129.50.
Boeing (NYSE:BA) last issued its quarterly earnings results 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 firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $23.22 million. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. Equities research analysts anticipate that Boeing Co. will post $6.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend 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 Boeing stock in a transaction dated Monday, August 1st. The stock was acquired at an average cost 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was 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 have modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Boeing by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,957,081 shares of the aircraft producer’s stock valued at $1,005,925,000 after buying an additional 59,454 shares during the period. I.G. Investment Management LTD. boosted its stake 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 valued at $240,282,000 after buying an additional 58,304 shares during the period. Stephens Inc. AR boosted its stake in shares of Boeing by 1.9% in the fourth quarter. Stephens Inc. AR now owns 23,606 shares of the aircraft producer’s stock valued at $3,413,000 after buying an additional 435 shares during the period. Matarin Capital Management LLC acquired a new stake in shares of Boeing during the fourth quarter valued at approximately $2,515,000. Finally, State of Tennessee Treasury Department boosted its stake 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 valued at $83,760,000 after buying an additional 42,408 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.