Vetr upgraded shares of Boeing (NYSE:BA) from a sell rating to a hold rating in a report published on Monday, February 5th. Vetr currently has $323.91 price objective on the aircraft producer’s stock.
A number of other research firms also recently commented on BA. Canaccord Genuity lifted their target price on Boeing from $290.00 to $345.00 and gave the stock a hold rating in a report on Thursday, February 1st. Wells Fargo & Co reiterated a market perform rating and set a $365.00 price target (up from $330.00) on shares of Boeing in a research report on Thursday, February 1st. ValuEngine upgraded Boeing from a hold rating to a buy rating in a research report on Friday, February 2nd. Royal Bank of Canada set a $363.00 price target on Boeing and gave the company a neutral rating in a research report on Wednesday, January 31st. Finally, Cowen reiterated a buy rating and set a $415.00 price target on shares of Boeing in a research report on Wednesday, January 31st. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $353.24.
Shares of Boeing (BA) traded up $10.97 during midday trading on Monday, reaching $343.80. The company’s stock had a trading volume of 6,881,557 shares, compared to its average volume of 6,280,000. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. The firm has a market capitalization of $204,760.00, a P/E ratio of 25.54, a PEG ratio of 1.83 and a beta of 1.44. Boeing has a fifty-two week low of $164.47 and a fifty-two week high of $361.45.
Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion during the quarter, compared to the consensus estimate of $24.78 billion. During the same quarter in the previous year, the company posted $2.47 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. analysts expect that Boeing will post 14.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. The ex-dividend date of this dividend is 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 dividend yield of 1.99%. Boeing’s payout ratio is currently 50.82%.
Boeing announced that its Board of Directors has initiated a share buyback program on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverpoint Wealth Management Holdings LLC lifted its stake in shares of Boeing by 0.3% in the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after purchasing an additional 4 shares during the last quarter. Accredited Investors Inc. lifted its stake in shares of Boeing by 0.4% in the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock valued at $325,000 after purchasing an additional 6 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in shares of Boeing by 0.4% in the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after purchasing an additional 9 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Boeing by 0.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 2,096 shares of the aircraft producer’s stock valued at $414,000 after purchasing an additional 10 shares during the last quarter. Finally, High Falls Advisors Inc lifted its stake in shares of Boeing by 0.3% in the 2nd quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock valued at $696,000 after purchasing an additional 11 shares during the last quarter. 70.45% of the stock is currently owned by institutional investors.
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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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