Boeing (NYSE:BA) has been assigned a $373.00 price target by equities researchers at Morgan Stanley in a note issued to investors on Thursday. The firm currently has a “hold” rating on the aircraft producer’s stock. Morgan Stanley’s price objective points to a potential upside of 16.70% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Sanford C. Bernstein lifted their price target on shares of Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target on the stock in a research note on Tuesday, January 2nd. Cowen reaffirmed a “buy” rating and issued a $320.00 price target on shares of Boeing in a research note on Monday, December 11th. JPMorgan Chase & Co. set a $325.00 price target on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Bank of America set a $320.00 price target on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $358.47.
Boeing stock traded down $17.49 during trading on Thursday, reaching $319.61. 7,273,513 shares of the company traded hands, compared to its average volume of 6,308,645. Boeing has a twelve month low of $173.75 and a twelve month high of $371.60. The company has a market cap of $198,691.98, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.37. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
Boeing declared that its Board of Directors has authorized a share buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lipe & Dalton acquired a new position in shares of Boeing in the third quarter valued at $100,000. Burt Wealth Advisors acquired a new position in shares of Boeing in the third quarter valued at $100,000. Stonehearth Capital Management LLC acquired a new position in shares of Boeing in the fourth quarter valued at $105,000. Solaris Asset Management LLC acquired a new position in shares of Boeing in the fourth quarter valued at $111,000. Finally, Clear Perspective Advisors LLC increased its holdings in shares of Boeing by 31.0% in the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 70.75% of the company’s stock.
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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.
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