Traders Buy Boeing Co. (BA) on Weakness
Traders bought shares of Boeing Co. (NYSE:BA) on weakness during trading hours on Thursday. $90.50 million flowed into the stock on the tick-up and $66.12 million flowed out of the stock on the tick-down, for a money net flow of $24.38 million into the stock. Of all stocks tracked, Boeing had the 20th highest net in-flow for the day. Boeing traded down ($1.19) for the day and closed at $133.53
Several equities research analysts have recently weighed in on BA shares. JPMorgan Chase & Co. set a $140.00 price target on Boeing and gave the stock a “neutral” rating in a report on Monday, July 4th. Vetr downgraded Boeing from a “buy” rating to a “hold” rating and set a $138.34 price target on the stock. in a report on Tuesday, April 26th. Drexel Hamilton reiterated a “buy” rating and issued a $158.00 price target on shares of Boeing in a report on Thursday, April 28th. Jefferies Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, May 31st. Finally, Argus raised their price objective on Boeing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, April 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $149.03.
The firm’s 50-day moving average price is $130.25 and its 200-day moving average price is $127.68. The company has a market capitalization of $85.06 billion and a price-to-earnings ratio of 18.04.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by $0.09. During the same quarter in the prior year, the company earned $1.97 earnings per share. The firm earned $22.60 billion during the quarter, compared to analyst estimates of $21.90 billion. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts expect that Boeing Co. will post $8.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Wednesday, August 10th.
In related news, SVP John J. Tracy sold 22,341 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $133.60, for a total value of $2,984,757.60. Following the transaction, the senior vice president now owns 22,372 shares of the company’s stock, valued at $2,988,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy John Keating sold 20,000 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $131.61, for a total value of $2,632,200.00. Following the completion of the transaction, the senior vice president now directly owns 70,096 shares in the company, valued at approximately $9,225,334.56. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Morgan Stanley raised its position in Boeing by 8.9% in the fourth quarter. Morgan Stanley now owns 4,062,303 shares of the aircraft producer’s stock valued at $587,370,000 after buying an additional 332,348 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in Boeing by 12.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 338,985 shares of the aircraft producer’s stock valued at $49,014,000 after buying an additional 36,351 shares during the period. MetLife Securities Inc raised its position in Boeing by 87.7% in the fourth quarter. MetLife Securities Inc now owns 43,378 shares of the aircraft producer’s stock valued at $6,272,000 after buying an additional 20,262 shares during the period. GAM Holding AG raised its position in Boeing by 12.7% in the fourth quarter. GAM Holding AG now owns 100,823 shares of the aircraft producer’s stock valued at $14,578,000 after buying an additional 11,396 shares during the period. Finally, Twin Capital Management Inc. raised its position in Boeing by 7.5% in the fourth quarter. Twin Capital Management Inc. now owns 66,350 shares of the aircraft producer’s stock valued at $9,594,000 after buying an additional 4,650 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.
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