Vetr Inc. Lowers Boeing Co. (BA) to Sell
Boeing Co. (NYSE:BA) was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Thursday. They currently have a $142.21 price target on the aircraft producer’s stock. Vetr‘s price target would suggest a potential downside of 5.03% from the stock’s previous close.
BA has been the topic of a number of other research reports. TheStreet upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Canaccord Genuity upped their price target on shares of Boeing from $140.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Societe Generale set a $148.00 price target on shares of Boeing and gave the stock a “neutral” rating in a research note on Friday, October 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $145.00 price target on shares of Boeing in a research note on Sunday, July 31st. Finally, Goldman Sachs Group Inc. set a $109.00 price target on shares of Boeing and gave the stock a “sell” rating in a research note on Thursday, October 27th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $147.99.
Boeing (NYSE:BA) traded up 0.15% during mid-day trading on Thursday, reaching $149.74. 3,071,074 shares of the company were exchanged. The stock has a 50-day moving average price of $140.88 and a 200 day moving average price of $133.62. Boeing has a one year low of $102.10 and a one year high of $150.81. The company has a market capitalization of $92.41 billion, a PE ratio of 22.88 and a beta of 1.02.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 26th. The aircraft producer reported $3.51 EPS for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.89. Boeing had a net margin of 4.52% and a return on equity of 126.01%. The firm had revenue of $23.90 billion for the quarter, compared to analysts’ expectations of $23.73 billion. During the same quarter in the previous year, the business posted $2.52 EPS. The company’s quarterly revenue was down 7.5% on a year-over-year basis. Analysts predict that Boeing will post $7.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be given a $1.09 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $4.36 dividend on an annualized basis and a yield of 2.91%. Boeing’s dividend payout ratio is presently 66.36%.
In related news, EVP J Michael Luttig sold 200,754 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $142.46, for a total value of $28,599,414.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Logan Capital Management Inc. raised its stake in Boeing by 20.2% in the first quarter. Logan Capital Management Inc. now owns 9,279 shares of the aircraft producer’s stock worth $1,178,000 after buying an additional 1,560 shares during the last quarter. Phocas Financial Corp. raised its stake in Boeing by 1,051.6% in the first quarter. Phocas Financial Corp. now owns 29,515 shares of the aircraft producer’s stock worth $3,747,000 after buying an additional 26,952 shares during the last quarter. Laffer Investments raised its stake in Boeing by 17.4% in the first quarter. Laffer Investments now owns 3,164 shares of the aircraft producer’s stock worth $402,000 after buying an additional 470 shares during the last quarter. Cullinan Associates Inc. raised its stake in Boeing by 2.9% in the first quarter. Cullinan Associates Inc. now owns 28,001 shares of the aircraft producer’s stock worth $3,554,000 after buying an additional 800 shares during the last quarter. Finally, BlueMountain Capital Management LLC raised its stake in Boeing by 167.1% in the first quarter. BlueMountain Capital Management LLC now owns 6,056 shares of the aircraft producer’s stock worth $769,000 after buying an additional 3,789 shares during the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.
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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.
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