Investors Sell Shares of Boeing Co. (BA) on Strength Following Analyst Downgrade
Investors sold shares of Boeing Co. (NYSE:BA) on strength during trading on Monday after Citigroup lowered their price target on the stock from $168.00 to $160.00. $78.39 million flowed into the stock on the tick-up and $104.33 million flowed out of the stock on the tick-down, for a money net flow of $25.94 million out of the stock. Of all equities tracked, Boeing had the 15th highest net out-flow for the day. Boeing traded up $0.78 for the day and closed at $127.48
BA has been the subject of a number of other 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 Thursday, July 28th. Morgan Stanley assumed coverage on shares of Boeing in a report on Thursday, June 23rd. They set an “overweight” rating and a $153.00 price objective for the company. Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $126.07 price objective for the company. in a report on Wednesday, August 24th. Canaccord Genuity lifted their price objective on shares of Boeing from $140.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $133.53 price objective (down from $165.00) on shares of Boeing in a report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Boeing has a consensus rating of “Hold” and an average target price of $147.23.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randall L. Stephenson bought 1,871 shares of Boeing stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the completion of the acquisition, the director now owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Prospera Financial Services Inc boosted its stake in shares of Boeing by 77.1% in the first quarter. Prospera Financial Services Inc now owns 4,375 shares of the aircraft producer’s stock worth $567,000 after buying an additional 1,904 shares in the last quarter. Banced Corp boosted its stake in shares of Boeing by 7.7% in the first quarter. Banced Corp now owns 4,667 shares of the aircraft producer’s stock worth $592,000 after buying an additional 333 shares in the last quarter. Capital Asset Advisory Services LLC boosted its stake in shares of Boeing by 30.5% in the first quarter. Capital Asset Advisory Services LLC now owns 2,036 shares of the aircraft producer’s stock worth $258,000 after buying an additional 476 shares in the last quarter. Exchange Capital Management Inc. boosted its stake in shares of Boeing by 26.7% in the first quarter. Exchange Capital Management Inc. now owns 2,301 shares of the aircraft producer’s stock worth $292,000 after buying an additional 485 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX boosted its stake in shares of Boeing by 7.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 151,625 shares of the aircraft producer’s stock worth $19,247,000 after buying an additional 10,464 shares in the last quarter. 75.45% of the stock is owned by institutional investors and hedge funds.
The company’s 50 day moving average price is $132.63 and its 200 day moving average price is $130.42. The firm has a market capitalization of $79.53 billion, a price-to-earnings ratio of 22.95 and a beta of 1.06.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Equities analysts predict that Boeing Co. will post $6.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Wednesday, August 10th. Boeing’s dividend payout ratio (DPR) is 80.15%.
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.
Receive News & Ratings for Boeing Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.