Boeing Co. (NYSE:BA) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a research report issued on Thursday. They currently have a $142.21 price target on the aircraft producer’s stock. Vetr‘s price target points to a potential downside of 5.22% from the company’s current price.
BA has been the subject of a number of other research reports. Goldman Sachs Group Inc. set a $107.00 price objective on shares of Boeing and gave the stock a “sell” rating in a report on Tuesday, August 30th. Argus lifted their price objective on shares of Boeing from $143.31 to $160.00 and gave the stock a “buy” rating in a report on Friday, October 28th. Citigroup Inc. decreased their price objective on shares of Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a report on Monday, September 19th. Barclays PLC decreased their price objective on shares of Boeing from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, October 6th. Finally, Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $147.99.
Boeing (NYSE:BA) opened at 150.04 on Thursday. The stock has a market cap of $92.60 billion, a P/E ratio of 22.93 and a beta of 1.02. Boeing has a one year low of $102.10 and a one year high of $150.81. The stock has a 50 day moving average of $141.51 and a 200-day moving average of $133.75.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.89. The business earned $23.90 billion during the quarter, compared to analyst estimates of $23.73 billion. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.52 earnings per share. Analysts anticipate that Boeing will post $7.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be paid a $1.09 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $4.36 annualized dividend and a dividend yield of 2.91%. Boeing’s payout ratio is 66.36%.
In related news, EVP J Michael Luttig sold 200,754 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $142.46, for a total value of $28,599,414.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Logan Capital Management Inc. boosted its stake in shares of Boeing by 20.2% in the first quarter. Logan Capital Management Inc. now owns 9,279 shares of the aircraft producer’s stock valued at $1,178,000 after buying an additional 1,560 shares during the last quarter. Phocas Financial Corp. boosted its stake in shares of Boeing by 1,051.6% in the first quarter. Phocas Financial Corp. now owns 29,515 shares of the aircraft producer’s stock worth $3,747,000 after buying an additional 26,952 shares during the last quarter. Laffer Investments boosted its stake in shares of Boeing by 17.4% in the first quarter. Laffer Investments now owns 3,164 shares of the aircraft producer’s stock worth $402,000 after buying an additional 470 shares during the last quarter. Cullinan Associates Inc. boosted its stake in shares of Boeing by 2.9% in the first quarter. Cullinan Associates Inc. now owns 28,001 shares of the aircraft producer’s stock worth $3,554,000 after buying an additional 800 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Boeing by 167.1% in the first quarter. BlueMountain Capital Management LLC now owns 6,056 shares of the aircraft producer’s stock worth $769,000 after buying an additional 3,789 shares during the last quarter. 75.43% of the stock is owned by institutional investors and hedge funds.
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.