Seaport Global Securities reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research note issued to investors on Thursday morning. They currently have a $430.00 price target on the aircraft producer’s stock. Seaport Global Securities also issued estimates for Boeing’s Q4 2017 earnings at $3.00 EPS and FY2017 earnings at $10.28 EPS.
Several other equities research analysts have also commented on the stock. Royal Bank of Canada set a $290.00 target price on shares of Boeing and gave the stock a hold rating in a research report on Wednesday, November 15th. Jefferies Group boosted their target price on shares of Boeing from $300.00 to $312.00 and gave the stock a buy rating in a research report on Tuesday, November 21st. JPMorgan Chase & Co. set a $325.00 target price on shares of Boeing and gave the stock a buy rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Boeing from a hold rating to a buy rating and set a $289.00 target price on the stock in a research report on Tuesday, October 10th. Finally, ValuEngine downgraded Boeing from a buy rating to a hold rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $304.10.
Shares of Boeing (NYSE:BA) traded down $2.43 during midday trading on Thursday, hitting $337.73. 7,260,079 shares of the company’s stock traded hands, compared to its average volume of 4,490,000. The stock has a market cap of $201,140.00, a price-to-earnings ratio of 31.07, a P/E/G ratio of 2.33 and a beta of 1.23. Boeing has a 52 week low of $157.29 and a 52 week high of $352.23. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54.
Boeing declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $1.71 dividend. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.84 annualized dividend and a yield of 2.03%. Boeing’s payout ratio is presently 52.25%.
A number of hedge funds have recently made changes to their positions in the stock. V Wealth Management LLC raised its stake in Boeing by 24.7% in the 4th quarter. V Wealth Management LLC now owns 2,461 shares of the aircraft producer’s stock valued at $826,000 after purchasing an additional 488 shares during the last quarter. Ingalls & Snyder LLC acquired a new position in Boeing in the 4th quarter valued at about $3,394,000. Addison Capital Co acquired a new position in Boeing in the 4th quarter valued at about $217,000. TRUE Private Wealth Advisors raised its stake in Boeing by 43.8% in the 4th quarter. TRUE Private Wealth Advisors now owns 14,436 shares of the aircraft producer’s stock valued at $4,257,000 after purchasing an additional 4,395 shares during the last quarter. Finally, Personal Capital Advisors Corp acquired a new position in Boeing in the 4th quarter valued at about $257,000. 70.87% of the stock is owned by hedge funds and other institutional investors.
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Boeing 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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