Boeing (BA) Lowered to “Strong Sell” at Vetr
Vetr lowered shares of Boeing (NYSE:BA) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning. They currently have $279.35 price objective on the aircraft producer’s stock.
BA has been the topic of a number of other reports. Buckingham Research reiterated a hold rating and issued a $203.00 price objective on shares of Boeing in a report on Friday, December 22nd. Jefferies Group reiterated a buy rating and issued a $339.00 price objective on shares of Boeing in a report on Monday, January 8th. Deutsche Bank upped their price objective on Boeing to $300.00 and gave the company a buy rating in a report on Thursday, September 14th. Nord/LB set a $250.00 price objective on Boeing and gave the company a neutral rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Boeing from a hold rating to a buy rating and set a $330.00 price objective on the stock in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $280.74.
Shares of Boeing (BA) traded up $8.09 during trading on Wednesday, hitting $336.21. The stock had a trading volume of 6,560,000 shares, compared to its average volume of 3,940,000. The firm has a market cap of $200,240.00, a PE ratio of 30.93, a P/E/G ratio of 2.28 and a beta of 1.23. Boeing has a fifty-two week low of $156.75 and a fifty-two week high of $336.88. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The business had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. During the same period in the previous year, the firm posted $3.51 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts forecast that Boeing will post 10.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a $1.71 dividend. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.03%. Boeing’s payout ratio is presently 52.25%.
Boeing announced that its Board of Directors has initiated a share repurchase plan on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in shares of Boeing by 7,215.0% during the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after acquiring an additional 4,852,679 shares during the period. Harbour Capital Advisors LLC raised its holdings in shares of Boeing by 18,613.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,342,129 shares of the aircraft producer’s stock worth $6,787,000 after purchasing an additional 1,334,957 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after purchasing an additional 1,160,859 shares in the last quarter. Koch Industries Inc. raised its holdings in shares of Boeing by 61,128.7% in the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock worth $846,000 after purchasing an additional 848,467 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Boeing by 19,958.0% in the 3rd quarter. Stifel Financial Corp now owns 833,410 shares of the aircraft producer’s stock worth $212,108,000 after purchasing an additional 829,255 shares in the last quarter. 70.84% of the stock is currently owned by institutional investors.
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Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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