Citigroup Inc. Cuts Boeing Co. (BA) Price Target to $160.00
Boeing Co. (NYSE:BA) had its price objective reduced by Citigroup Inc. from $168.00 to $160.00 in a research note issued to investors on Monday. Citigroup Inc. currently has a buy rating on the aircraft producer’s stock.
Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the company a sell rating in a research report on Thursday, July 28th. Morgan Stanley began coverage on Boeing in a research report on Thursday, June 23rd. They set an overweight rating and a $153.00 price target on the stock. Vetr cut Boeing from a hold rating to a sell rating and set a $126.07 price target on the stock. in a research report on Wednesday, August 24th. Canaccord Genuity upped their price target on Boeing from $140.00 to $144.00 and gave the company a hold rating in a research report on Thursday, July 28th. Finally, Jefferies Group reiterated a buy rating and set a $133.53 price target (down from $165.00) on shares of Boeing in a research report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $147.23.
Shares of Boeing (NYSE:BA) opened at 130.56 on Monday. Boeing has a 52-week low of $102.10 and a 52-week high of $150.59. The firm has a market capitalization of $81.45 billion, a P/E ratio of 23.50 and a beta of 1.06. The company’s 50-day moving average is $131.65 and its 200 day moving average is $130.70.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. Analysts expect that Boeing will post $6.30 EPS for the current fiscal year.
The firm 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. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a yield of 3.34%. Boeing’s dividend payout ratio is presently 80.15%.
In other Boeing news, Director Randall L. Stephenson purchased 1,871 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average cost 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 $498,204.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction that occurred 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. 0.58% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Arcus Capital Partners LLC increased its stake in Boeing by 0.8% in the second quarter. Arcus Capital Partners LLC now owns 1,590 shares of the aircraft producer’s stock worth $207,000 after buying an additional 13 shares during the last quarter. Mycio Wealth Partners LLC increased its stake in Boeing by 0.3% in the second quarter. Mycio Wealth Partners LLC now owns 3,813 shares of the aircraft producer’s stock worth $495,000 after buying an additional 13 shares during the last quarter. Everett Harris & Co. CA increased its stake in Boeing by 0.4% in the second quarter. Everett Harris & Co. CA now owns 3,902 shares of the aircraft producer’s stock worth $507,000 after buying an additional 15 shares during the last quarter. Stillwater Investment Management LLC increased its stake in Boeing by 0.8% in the second quarter. Stillwater Investment Management LLC now owns 1,949 shares of the aircraft producer’s stock worth $253,000 after buying an additional 16 shares during the last quarter. Finally, McNamara Financial Services Inc. increased its stake in Boeing by 0.8% in the second quarter. McNamara Financial Services Inc. now owns 2,162 shares of the aircraft producer’s stock worth $281,000 after buying an additional 18 shares during the last quarter. 75.46% of the stock is currently owned by 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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