Boeing Co. (NYSE:BA) was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Thursday. They presently have a $142.21 price objective on the aircraft producer’s stock. Vetr‘s price target indicates a potential downside of 5.03% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Vertical Research assumed coverage on Boeing in a research note on Friday, October 28th. They set a “hold” rating for the company. Argus boosted their price objective on Boeing from $143.31 to $160.00 and gave the company a “buy” rating in a research note on Friday, October 28th. Societe Generale set a $148.00 price objective on Boeing and gave the company a “neutral” rating in a research note on Friday, October 28th. TheStreet upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Finally, Goldman Sachs Group Inc. set a $109.00 price objective on Boeing and gave the company a “sell” rating in a research note on Thursday, October 27th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $147.99.
Shares of Boeing (NYSE:BA) traded up 0.15% on Thursday, hitting $149.74. The stock had a trading volume of 3,071,074 shares. Boeing has a 12 month low of $102.10 and a 12 month high of $150.81. The stock has a market cap of $92.41 billion, a P/E ratio of 22.88 and a beta of 1.02. The firm has a 50 day moving average of $140.88 and a 200 day moving average of $133.62.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.89. The firm earned $23.90 billion during the quarter, compared to analysts’ expectations of $23.73 billion. Boeing had a return on equity of 126.01% and a net margin of 4.52%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.52 earnings per share. On average, equities analysts forecast that Boeing will post $7.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 11th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 2.91%. Boeing’s dividend payout ratio (DPR) is 66.36%.
In other news, EVP J Michael Luttig sold 200,754 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $142.46, for a total value of $28,599,414.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in BA. Kernodle & Katon Asset Management Group LLC purchased a new position in Boeing during the third quarter worth approximately $102,000. Jackson Grant Investment Advisers Inc. raised its stake in Boeing by 124.9% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 830 shares of the aircraft producer’s stock worth $109,000 after buying an additional 461 shares during the period. Timber Creek Capital Management LLC raised its stake in Boeing by 325.0% in the third quarter. Timber Creek Capital Management LLC now owns 850 shares of the aircraft producer’s stock worth $111,000 after buying an additional 650 shares during the period. MV Capital Management Inc. raised its stake in Boeing by 0.7% in the third quarter. MV Capital Management Inc. now owns 919 shares of the aircraft producer’s stock worth $121,000 after buying an additional 6 shares during the period. Finally, Global X Management Co. LLC raised its stake in Boeing by 46.8% in the third quarter. Global X Management Co. LLC now owns 938 shares of the aircraft producer’s stock worth $124,000 after buying an additional 299 shares during the period. Institutional investors own 75.43% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.