Investors Buy Shares of Boeing Co. (BA) on Weakness
Traders purchased shares of Boeing Co. (NYSE:BA) on weakness during trading hours on Tuesday. $122.61 million flowed into the stock on the tick-up and $88.18 million flowed out of the stock on the tick-down, for a money net flow of $34.43 million into the stock. Of all companies tracked, Boeing had the 7th highest net in-flow for the day. Boeing traded down ($2.09) for the day and closed at $130.81
BA has been the subject of a number of research reports. Goldman Sachs Group Inc. set a $107.00 price objective on Boeing and gave the stock a “sell” rating in a research report on Thursday, July 28th. Morgan Stanley began coverage on Boeing in a report on Thursday, June 23rd. They set an “overweight” rating and a $153.00 target price on the stock. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $126.07 target price on the stock. in a report on Wednesday, August 24th. Jefferies Group restated a “buy” rating and set a $165.00 target price on shares of Boeing in a report on Monday, May 16th. Finally, Canaccord Genuity raised their target price on Boeing from $140.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $149.74.
The stock has a market capitalization of $81.60 billion and a price-to-earnings ratio of 23.55. The stock’s 50 day moving average is $133.14 and its 200-day moving average is $129.48.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.48. During the same quarter in the prior year, the business earned $1.62 EPS. The company earned $24.80 million during the quarter, compared to the consensus estimate of $23.22 million. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Boeing Co. will post $6.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.33%.
In other news, SVP Diana L. Sands sold 14,151 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Randall L. Stephenson bought 1,871 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the acquisition, the director now directly owns 3,721 shares of the company’s stock, valued at $498,204.69. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently bought and sold shares of BA. Westfield Capital Management Co. LP raised its position 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 worth $4,906,000 after buying an additional 300 shares in the last quarter. KBC Group NV raised its position in Boeing by 0.5% in the fourth quarter. KBC Group NV now owns 152,009 shares of the aircraft producer’s stock worth $21,979,000 after buying an additional 694 shares in the last quarter. State of Tennessee Treasury Department raised its position 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 worth $83,760,000 after buying an additional 42,408 shares in the last quarter. Affinity Investment Advisors LLC raised its position in Boeing by 2.9% in the fourth quarter. Affinity Investment Advisors LLC now owns 133,668 shares of the aircraft producer’s stock worth $19,327,000 after buying an additional 3,751 shares in the last quarter. Finally, Buckingham Capital Management Inc. raised its position in Boeing by 24.0% in the third quarter. Buckingham Capital Management Inc. now owns 14,699 shares of the aircraft producer’s stock worth $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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