Investors sold shares of Boeing (NYSE:BA) on strength during trading hours on Tuesday. $426.69 million flowed into the stock on the tick-up and $783.02 million flowed out of the stock on the tick-down, for a money net flow of $356.33 million out of the stock. Of all companies tracked, Boeing had the highest net out-flow for the day. Boeing traded up $5.87 for the day and closed at $337.63
A number of equities research analysts have recently weighed in on the stock. Buckingham Research reaffirmed a “hold” rating and set a $203.00 target price on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group reaffirmed a “buy” rating and set a $339.00 target price on shares of Boeing in a research note on Monday, January 8th. Credit Suisse Group reaffirmed an “outperform” rating and set a $375.00 target price (up previously from $310.00) on shares of Boeing in a research note on Friday, January 12th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “equal weight” rating and set a $373.00 target price (up previously from $340.00) on shares of Boeing in a research note on Friday, February 23rd. Finally, Vetr lowered shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 target price on the stock. in a research note on Thursday, March 8th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Boeing currently has a consensus rating of “Buy” and a consensus target price of $358.47.
The stock has a market capitalization of $194,478.39, a PE ratio of 25.07, a PEG ratio of 1.71 and a beta of 1.37. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74.
Boeing declared that its Board of Directors has initiated a stock repurchase program on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Beach Investment Management LLC. purchased a new position in shares of Boeing during the second quarter valued at approximately $429,000. Ffcm LLC raised its holdings in shares of Boeing by 6.0% during the second quarter. Ffcm LLC now owns 40,676 shares of the aircraft producer’s stock valued at $8,044,000 after purchasing an additional 2,296 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Boeing by 5.0% during the second quarter. Manchester Capital Management LLC now owns 5,471 shares of the aircraft producer’s stock valued at $1,082,000 after purchasing an additional 260 shares during the last quarter. WMS Partners LLC raised its holdings in shares of Boeing by 5.3% during the second quarter. WMS Partners LLC now owns 2,943 shares of the aircraft producer’s stock valued at $582,000 after purchasing an additional 148 shares during the last quarter. Finally, Argent Trust Co raised its holdings in shares of Boeing by 16.5% during the second quarter. Argent Trust Co now owns 5,641 shares of the aircraft producer’s stock valued at $1,116,000 after purchasing an additional 800 shares during the last quarter. 70.75% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://stocknewstimes.com/2018/03/20/investors-sell-shares-of-boeing-ba-on-strength-ba.html.
Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.