Traders Sell Boeing Co. (BA) on Strength (BA)
Investors sold shares of Boeing Co. (NYSE:BA) on strength during trading on Friday. $65.30 million flowed into the stock on the tick-up and $97.05 million flowed out of the stock on the tick-down, for a money net flow of $31.75 million out of the stock. Of all companies tracked, Boeing had the 0th highest net out-flow for the day. Boeing traded up $0.45 for the day and closed at $129.90
Several equities analysts recently commented on the stock. Goldman Sachs Group Inc. set a $107.00 price target on shares of Boeing and gave the company a “sell” rating in a report on Thursday, July 28th. Morgan Stanley assumed coverage on shares of Boeing in a report on Thursday, June 23rd. They set an “overweight” rating and a $153.00 price target on the stock. Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $126.07 price target on the stock. in a report on Wednesday, August 24th. Jefferies Group reiterated a “buy” rating and set a $165.00 price target on shares of Boeing in a report on Monday, May 16th. Finally, Canaccord Genuity boosted their price objective on shares of Boeing from $140.00 to $144.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $149.74.
The stock has a 50 day moving average price of $133.09 and a 200 day moving average price of $129.50. The stock has a market cap of $81.82 billion and a PE ratio of 23.61.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.48. The company had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, analysts anticipate that Boeing Co. will post $6.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were given a dividend of $1.09 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $4.36 annualized dividend and a dividend yield of 3.32%.
In other Boeing news, Director Randall L. Stephenson bought 1,871 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the acquisition, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in the stock. Redwood Investments LLC boosted its position in shares of Boeing by 117,226.6% in the fourth quarter. Redwood Investments LLC now owns 92,688 shares of the aircraft producer’s stock worth $13,402,000 after buying an additional 92,609 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Boeing by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,957,081 shares of the aircraft producer’s stock worth $1,005,925,000 after buying an additional 59,454 shares during the last quarter. I.G. Investment Management LTD. boosted its position in shares of Boeing by 3.6% in the fourth quarter. I.G. Investment Management LTD. now owns 1,661,814 shares of the aircraft producer’s stock worth $240,282,000 after buying an additional 58,304 shares during the last quarter. State of Tennessee Treasury Department boosted its position in shares of 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 during the last quarter. Finally, Matarin Capital Management LLC acquired a new position in shares of Boeing during the fourth quarter worth approximately $2,515,000.
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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