Wells Fargo & Company reaffirmed their market perform rating on shares of Boeing (NYSE:BA) in a research note published on Tuesday morning, The Fly reports. They currently have a $290.00 price target on the aircraft producer’s stock, up from their previous price target of $270.00.

A number of other research firms have also commented on BA. Deutsche Bank boosted their price target on shares of Boeing to $300.00 and gave the company a buy rating in a research report on Thursday, September 14th. Jefferies Group reiterated a buy rating and set a $300.00 target price on shares of Boeing in a research report on Friday, October 6th. Nord/LB set a $250.00 target price on shares of Boeing and gave the stock a neutral rating in a research report on Thursday, November 2nd. Royal Bank of Canada upped their target price on shares of Boeing from $269.00 to $273.00 and gave the stock a sector perform rating in a research report on Thursday, October 26th. Finally, Vetr lowered shares of Boeing from a hold rating to a sell rating and set a $263.71 target price on the stock. in a research report on Friday, December 1st. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $266.73.

Boeing (BA) traded up $0.44 during trading hours on Tuesday, hitting $294.32. 2,139,776 shares of the stock traded hands, compared to its average volume of 3,300,766. Boeing has a one year low of $153.06 and a one year high of $296.82. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18. The company has a market cap of $173,813.63, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business had revenue of $24.31 billion for the quarter, compared to analyst estimates of $24.09 billion. During the same period in the previous year, the business earned $3.51 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. research analysts forecast that Boeing will post 10.1 EPS for the current fiscal year.

Boeing announced that its Board of Directors has approved a stock buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is presently 52.21%.

A number of large investors have recently modified their holdings of BA. Buckingham Asset Management LLC boosted its holdings in Boeing by 0.5% during the first quarter. Buckingham Asset Management LLC now owns 13,965 shares of the aircraft producer’s stock worth $2,470,000 after purchasing an additional 65 shares during the last quarter. Heritage Trust Co acquired a new stake in Boeing in the first quarter valued at $361,000. Outfitter Advisors LTD. lifted its stake in Boeing by 20.9% in the first quarter. Outfitter Advisors LTD. now owns 4,052 shares of the aircraft producer’s stock valued at $717,000 after acquiring an additional 700 shares during the last quarter. Pitcairn Co. lifted its stake in Boeing by 93.9% in the first quarter. Pitcairn Co. now owns 7,048 shares of the aircraft producer’s stock valued at $1,246,000 after acquiring an additional 3,413 shares during the last quarter. Finally, Ffcm LLC lifted its stake in Boeing by 6.9% in the first quarter. Ffcm LLC now owns 38,380 shares of the aircraft producer’s stock valued at $6,788,000 after acquiring an additional 2,490 shares during the last quarter. 70.97% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Boeing’s (BA) Market Perform Rating Reiterated at Wells Fargo & Company” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/12/15/boeings-ba-market-perform-rating-reiterated-at-wells-fargo-company.html.

About Boeing

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.

The Fly

Analyst Recommendations for Boeing (NYSE:BA)

Receive News & Stock 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 stocks with our FREE daily email newsletter.