Investors Buy Boeing Co. (BA) on Weakness
Investors bought shares of Boeing Co. (NYSE:BA) on weakness during trading hours on Monday. $123.90 million flowed into the stock on the tick-up and $81.54 million flowed out of the stock on the tick-down, for a money net flow of $42.36 million into the stock. Of all companies tracked, Boeing had the 12th highest net in-flow for the day. Boeing traded down ($0.53) for the day and closed at $132.94
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Boeing from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Morgan Stanley assumed coverage on shares of Boeing in a research note on Thursday, June 23rd. They issued an “overweight” rating and a $153.00 price target on the stock. Jefferies Group restated a “buy” rating and issued a $165.00 price target on shares of Boeing in a research note on Monday, May 16th. Vetr upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $137.79 price target on the stock in a research note on Wednesday, May 4th. Finally, Societe Generale set a $140.00 price target on shares of Boeing and gave the company a “neutral” rating in a research note on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. Boeing presently has a consensus rating of “Hold” and an average target price of $147.66.
The stock has a market capitalization of $84.68 billion and a PE ratio of 17.96. The stock has a 50 day moving average of $130.60 and a 200-day moving average of $127.44.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other Boeing news, SVP Timothy John Keating sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $131.61, for a total transaction of $2,632,200.00. Following the transaction, the senior vice president now owns 70,096 shares in the company, valued at $9,225,334.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas J. Downey sold 6,047 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $134.00, for a total value of $810,298.00. Following the transaction, the senior vice president now owns 39,167 shares in the company, valued at approximately $5,248,378. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the company. Roof Eidam & Maycock ADV increased its position in shares of Boeing by 1.3% in the fourth quarter. Roof Eidam & Maycock ADV now owns 7,543 shares of the aircraft producer’s stock worth $1,091,000 after buying an additional 100 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Boeing by 5.1% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,645 shares of the aircraft producer’s stock worth $1,105,000 after buying an additional 368 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Boeing by 22.5% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 7,765 shares of the aircraft producer’s stock valued at $1,123,000 after buying an additional 1,424 shares during the period. Hallmark Capital Management Inc. purchased a new position in Boeing during the fourth quarter valued at $1,142,000. Finally, Bronfman E.L. Rothschild L.P. purchased a new position in Boeing during the fourth quarter valued at $1,208,000.
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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