J P Morgan Chase & Co upgraded shares of Boeing Company (The) (NYSE:BA) from a neutral rating to an overweight rating in a research report released on Friday, July 14th, Marketbeat reports. J P Morgan Chase & Co currently has $240.00 price objective on the aircraft producer’s stock, up from their prior price objective of $205.00.
Several other research analysts have also recently weighed in on BA. Barclays PLC restated an overweight rating and set a $190.00 price target (up from $175.00) on shares of Boeing Company (The) in a report on Thursday, March 16th. Canaccord Genuity restated a hold rating and set a $162.00 price target on shares of Boeing Company (The) in a report on Friday, March 17th. Vetr upgraded shares of Boeing Company (The) from a sell rating to a hold rating and set a $172.03 price target on the stock in a report on Tuesday, March 21st. Jefferies Group LLC restated a buy rating and set a $200.00 price target on shares of Boeing Company (The) in a report on Thursday, March 23rd. Finally, Berenberg Bank started coverage on shares of Boeing Company (The) in a report on Wednesday, March 29th. They set a buy rating and a $202.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $228.31.
Shares of Boeing Company (NYSE:BA) opened at 234.88 on Friday. The company has a market capitalization of $138.83 billion, a price-to-earnings ratio of 20.58 and a beta of 1.16. Boeing Company has a 1-year low of $126.31 and a 1-year high of $246.49. The stock’s 50 day moving average price is $217.15 and its 200 day moving average price is $189.10.
Boeing Company (The) (NYSE:BA) last issued 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 during the quarter, compared to analysts’ expectations of $22.97 billion. During the same period last year, the company earned ($0.44) earnings per share. The business’s revenue was down 8.1% on a year-over-year basis. Analysts expect that Boeing Company will post $9.95 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $5.68 annualized dividend and a yield of 2.42%. Boeing Company (The)’s payout ratio is currently 49.74%.
In other Boeing Company (The) news, Chairman Dennis A. Muilenburg sold 56,838 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $243.46, for a total transaction of $13,837,779.48. Following the completion of the sale, the chairman now owns 127,778 shares of the company’s stock, valued at approximately $31,108,831.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory D. Smith sold 19,757 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $245.42, for a total transaction of $4,848,762.94. Following the sale, the chief financial officer now directly owns 152,195 shares of the company’s stock, valued at approximately $37,351,696.90. The disclosure for this sale can be found here. Insiders have sold a total of 83,468 shares of company stock valued at $20,353,814 in the last three months. 0.28% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Boeing Company (The) by 1.0% in the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after buying an additional 407,511 shares during the period. State Street Corp raised its position in shares of Boeing Company (The) by 0.3% in the first quarter. State Street Corp now owns 28,433,353 shares of the aircraft producer’s stock valued at $5,028,731,000 after buying an additional 87,850 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Boeing Company (The) by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock valued at $606,405,000 after buying an additional 123,420 shares during the period. LSV Asset Management raised its position in shares of Boeing Company (The) by 0.7% in the second quarter. LSV Asset Management now owns 3,006,858 shares of the aircraft producer’s stock valued at $594,606,000 after buying an additional 21,804 shares during the period. Finally, Bank of Montreal Can raised its position 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 valued at $524,974,000 after buying an additional 694,658 shares during the period. Institutional investors and hedge funds own 74.47% of the company’s stock.
About Boeing Company (The)
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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