Boeing (BA) Upgraded at Vetr
Vetr upgraded shares of Boeing (NYSE:BA) from a hold rating to a strong-buy rating in a report released on Thursday morning. They currently have $409.75 price objective on the aircraft producer’s stock.
BA has been the topic of a number of other research reports. Berenberg Bank set a $395.00 price objective on shares of Boeing and gave the company a buy rating in a research report on Monday, January 29th. Buckingham Research reiterated a hold rating and set a $203.00 price objective on shares of Boeing in a research report on Friday, December 22nd. Nord/LB set a $250.00 price objective on shares of Boeing and gave the company a neutral rating in a research report on Thursday, November 2nd. Jefferies Group reiterated a buy rating and set a $339.00 price objective on shares of Boeing in a research report on Monday, January 8th. Finally, Wells Fargo & Co reissued a market perform rating and set a $365.00 target price (up from $330.00) on shares of Boeing in a research note on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $359.39.
Boeing (NYSE BA) opened at $344.67 on Thursday. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. Boeing has a 1 year low of $173.75 and a 1 year high of $371.60. The firm has a market cap of $202,840.00, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.81 and a beta of 1.37.
Boeing announced that its board has authorized a share buyback program on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 9th were paid a $1.71 dividend. The ex-dividend date was Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a yield of 1.98%. Boeing’s dividend payout ratio is 58.31%.
In related news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Stonehearth Capital Management LLC purchased a new stake in shares of Boeing during the fourth quarter valued at about $105,000. Solaris Asset Management LLC purchased a new stake in shares of Boeing during the fourth quarter valued at about $111,000. Lipe & Dalton purchased a new stake in shares of Boeing during the third quarter valued at about $100,000. Burt Wealth Advisors purchased a new stake in shares of Boeing during the third quarter valued at about $100,000. Finally, Welch Group LLC purchased a new stake in shares of Boeing during the fourth quarter valued at about $120,000. 70.88% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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