Boeing Co. (BA) Rating Reiterated by Jefferies Group
Boeing Co. (NYSE:BA)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a research report issued on Thursday.
Several other equities analysts also recently commented on BA. Drexel Hamilton reissued a “buy” rating and set a $158.00 target price on shares of Boeing in a research report on Friday, July 15th. Goldman Sachs Group Inc. set a $101.00 target price on shares of Boeing and gave the stock a “sell” rating in a research report on Tuesday, May 31st. Deutsche Bank AG reissued a “buy” rating and set a $160.00 target price on shares of Boeing in a research report on Monday, June 20th. Bank of America Corp. reissued an “underperform” rating and set a $125.00 target price on shares of Boeing in a research report on Wednesday, July 6th. Finally, Canaccord Genuity reissued a “hold” rating and set a $140.00 target price on shares of Boeing in a research report on Tuesday, May 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $147.23.
Shares of Boeing (NYSE:BA) traded up 1.00% during mid-day trading on Thursday, reaching $131.87. The company’s stock had a trading volume of 3,219,885 shares. The company has a 50 day moving average price of $131.65 and a 200 day moving average price of $130.70. The stock has a market capitalization of $82.26 billion, a P/E ratio of 23.74 and a beta of 1.06. Boeing has a 12 month low of $102.10 and a 12 month high of $150.59.
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, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business earned $24.80 million during the quarter, compared to analyst estimates of $23.22 million. During the same period last year, the company earned $1.62 earnings per share. Boeing’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that Boeing will post $6.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 12th were issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Wednesday, August 10th. Boeing’s dividend payout ratio is currently 80.15%.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall L. Stephenson bought 1,871 shares of the stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the acquisition, 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. 0.58% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its stake in Boeing by 23.3% in the first quarter. Panagora Asset Management Inc. now owns 1,139,382 shares of the aircraft producer’s stock worth $144,633,000 after buying an additional 215,276 shares in the last quarter. Rothschild Investment Corp IL raised its position in shares of Boeing by 2.6% in the second quarter. Rothschild Investment Corp IL now owns 90,321 shares of the aircraft producer’s stock valued at $11,730,000 after buying an additional 2,250 shares during the period. First Quadrant L P CA raised its position in shares of Boeing by 991.8% in the second quarter. First Quadrant L P CA now owns 133,200 shares of the aircraft producer’s stock valued at $17,299,000 after buying an additional 121,000 shares during the period. Heritage Investors Management Corp raised its position in shares of Boeing by 5.2% in the second quarter. Heritage Investors Management Corp now owns 115,504 shares of the aircraft producer’s stock valued at $15,001,000 after buying an additional 5,659 shares during the period. Finally, Scopia Capital Management LP purchased a new position in shares of Boeing during the first quarter valued at about $38,707,000. 75.46% of the stock is owned by hedge funds and other institutional investors.
Boeing Company Profile
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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