Investors Buy Boeing Co. (BA) on Weakness
Investors purchased 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 analysts have recently weighed in on BA shares. Goldman Sachs Group Inc. set a $100.00 target price on shares of Boeing and gave the company a “sell” rating in a research report on Friday. Jefferies Group reiterated a “buy” rating and set a $133.53 target price (down from $165.00) on shares of Boeing in a research report on Friday. Drexel Hamilton reiterated a “buy” rating and set a $158.00 target price on shares of Boeing in a research report on Friday, July 15th. Vetr lowered shares of Boeing from a “hold” rating to a “sell” rating and set a $126.01 target price on the stock. in a research report on Monday, July 11th. Finally, Bank of America Corp. restated an “underperform” rating and issued a $125.00 price target on shares of Boeing in a research report on Wednesday, July 6th. Three research 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. The company presently has a consensus rating of “Hold” and an average target price of $147.48.
The firm has a market capitalization of $85.02 billion and a price-to-earnings ratio of 18.04. The company has a 50-day moving average of $130.44 and a 200 day moving average of $127.62.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by $0.09. During the same period last year, the firm posted $1.97 EPS. The business had revenue of $22.60 billion for the quarter, compared to analysts’ expectations of $21.90 billion. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts forecast that Boeing Co. will post $8.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 12th will be issued a dividend of $1.09 per share. The ex-dividend date is Wednesday, August 10th. This represents a $4.36 annualized dividend and a yield of 3.27%.
In other news, CEO Raymond L. Conner sold 8,109 shares of Boeing stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $132.09, for a total value of $1,071,117.81. Following the completion of the sale, the chief executive officer now owns 120,177 shares in the company, valued at approximately $15,874,179.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas J. Downey sold 6,047 shares of Boeing stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $134.00, for a total transaction of $810,298.00. Following the completion of the sale, the senior vice president now owns 39,167 shares of the company’s stock, valued at approximately $5,248,378. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP raised its stake in Boeing by 0.9% in the fourth quarter. Westfield Capital Management Co. LP now owns 33,930 shares of the aircraft producer’s stock valued at $4,906,000 after buying an additional 300 shares in the last quarter. KBC Group NV raised its stake in Boeing by 0.5% in the fourth quarter. KBC Group NV now owns 152,009 shares of the aircraft producer’s stock valued at $21,979,000 after buying an additional 694 shares in the last quarter. State of Tennessee Treasury Department raised its stake in 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 in the last quarter. Affinity Investment Advisors LLC raised its stake in Boeing by 2.9% in the fourth quarter. Affinity Investment Advisors LLC now owns 133,668 shares of the aircraft producer’s stock valued at $19,327,000 after buying an additional 3,751 shares in the last quarter. Finally, Buckingham Capital Management Inc. raised its stake in Boeing by 24.0% in the third quarter. Buckingham Capital Management Inc. now owns 14,699 shares of the aircraft producer’s stock valued at $1,925,000 after buying an additional 2,849 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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