Shares of Boeing Co (NYSE:BA) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $291.60 and last traded at $290.60, with a volume of 3086626 shares traded. The stock had previously closed at $283.16.
The newly announced dividend which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.84 annualized dividend and a yield of 2.34%. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is presently 52.25%.
Several equities analysts have recently commented on the company. Wells Fargo & Company reaffirmed a “hold” rating and set a $255.00 target price (up from $240.00) on shares of Boeing in a report on Wednesday, September 20th. Zacks Investment Research lowered Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Vetr lowered Boeing from a “strong-buy” rating to a “buy” rating and set a $266.88 target price for the company. in a report on Wednesday, August 16th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $303.00 target price (up from $274.00) on shares of Boeing in a report on Wednesday, September 20th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $310.00 target price (up from $300.00) on shares of Boeing in a report on Tuesday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $266.73.
The firm has a market capitalization of $173,810.00, a price-to-earnings ratio of 29.04, a PEG ratio of 2.16 and a beta of 1.24. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $24.09 billion. During the same period in the prior year, the company posted $3.51 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. sell-side analysts anticipate that Boeing Co will post 10.1 EPS for the current fiscal year.
Boeing announced that its board has authorized a share repurchase program on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after acquiring an additional 407,511 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after acquiring an additional 1,160,859 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after acquiring an additional 4,852,679 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after acquiring an additional 402,240 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Boeing by 2.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock valued at $801,586,000 after acquiring an additional 86,722 shares during the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
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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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