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 equities 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 have recently weighed in on BA shares. Goldman Sachs Group Inc. set a $107.00 price objective on shares of Boeing and gave the company a “sell” rating in a research report on Thursday, July 28th. Morgan Stanley assumed coverage on shares of Boeing in a report on Thursday, June 23rd. They issued an “overweight” rating and a $153.00 target price for the company. Vetr cut shares of Boeing from a “hold” rating to a “sell” rating and set a $126.07 target price for the company. in a report on Wednesday, August 24th. Jefferies Group reiterated a “buy” rating and issued a $165.00 target price on shares of Boeing in a report on Monday, May 16th. Finally, Canaccord Genuity raised their target price on shares of Boeing from $140.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. Two investment 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 stock presently has a consensus rating of “Hold” and a consensus price target of $149.74.
The firm has a market cap of $81.82 billion and a PE ratio of 23.61. The firm has a 50 day moving average price of $133.09 and a 200-day moving average price of $129.50.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.48. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $23.22 million. During the same period in the previous year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts forecast that Boeing Co. will post $6.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Wednesday, August 10th.
In other news, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Randall L. Stephenson purchased 1,871 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the completion of the purchase, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The disclosure for this purchase can be found here.
Several hedge funds have recently made changes to their positions in BA. Wells Fargo & Company MN raised its stake 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. Homrich & Berg increased its position in shares of Boeing by 10.9% in the fourth quarter. Homrich & Berg now owns 9,235 shares of the aircraft producer’s stock worth $1,335,000 after buying an additional 908 shares during the period. Redwood Investments LLC increased 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 period. I.G. Investment Management LTD. increased 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 period. Finally, Stephens Inc. AR increased its position in shares of Boeing by 1.9% in the fourth quarter. Stephens Inc. AR now owns 23,606 shares of the aircraft producer’s stock worth $3,413,000 after buying an additional 435 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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