Boeing’s (BA) Market Perform Rating Reiterated at Wells Fargo & Company
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 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.
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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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