Boeing Company (The) (BA) Reaches New 52-Week High After Analyst Upgrade

Boeing Company (The) (NYSE:BA) shares reached a new 52-week high during trading on Monday after Vetr upgraded the stock from a hold rating to a buy rating. Vetr now has a $253.33 price target on the stock. Boeing Company (The) traded as high as $243.67 and last traded at $244.13, with a volume of 3,117,788 shares traded. The stock had previously closed at $241.27.

Several other research analysts have also recently commented on the company. Zacks Investment Research cut Boeing Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. UBS AG boosted their price objective on Boeing Company (The) from $180.00 to $253.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Argus reissued a “buy” rating and issued a $270.00 price objective on shares of Boeing Company (The) in a report on Tuesday, August 1st. J P Morgan Chase & Co boosted their price objective on Boeing Company (The) from $20.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Finally, Canaccord Genuity reissued a “hold” rating and issued a $215.00 price objective (up from $200.00) on shares of Boeing Company (The) in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $230.62.

In other Boeing Company (The) news, SVP Thomas J. Downey sold 134 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $241.20, for a total value of $32,320.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Heidi B. Capozzi sold 4,217 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $241.51, for a total value of $1,018,447.67. The disclosure for this sale can be found here. Insiders sold 83,468 shares of company stock valued at $20,353,814 over the last 90 days. 0.28% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in shares of Boeing Company (The) by 7,215.0% in the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after buying an additional 4,852,679 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of Boeing Company (The) by 18,613.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,342,129 shares of the aircraft producer’s stock worth $6,787,000 after buying an additional 1,334,957 shares during the period. AQR Capital Management LLC increased its stake in shares of Boeing Company (The) by 66.5% in the first quarter. AQR Capital Management LLC now owns 2,627,684 shares of the aircraft producer’s stock worth $464,732,000 after buying an additional 1,049,546 shares during the period. Koch Industries Inc. increased its stake in shares of Boeing Company (The) by 61,128.7% in the second quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock worth $846,000 after buying an additional 848,467 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Boeing Company (The) by 30.6% in the first quarter. Bank of Montreal Can now owns 2,968,297 shares of the aircraft producer’s stock worth $524,974,000 after buying an additional 694,658 shares during the period. Hedge funds and other institutional investors own 74.44% of the company’s stock.

The company has a market capitalization of $139.36 billion, a P/E ratio of 20.66 and a beta of 1.16. The company’s 50 day moving average price is $222.49 and its 200 day moving average price is $191.63.

Boeing Company (The) (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.23. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The firm had revenue of $22.74 billion for the quarter, compared to analysts’ expectations of $22.97 billion. During the same period last year, the firm earned ($0.44) earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts forecast that Boeing Company will post $9.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $5.68 dividend on an annualized basis and a yield of 2.41%. Boeing Company (The)’s payout ratio is presently 49.74%.

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Boeing Company (The) 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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