Traders Buy Shares of Boeing (BA) on Weakness

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Traders bought shares of Boeing Co (NYSE:BA) on weakness during trading on Thursday. $984.12 million flowed into the stock on the tick-up and $842.37 million flowed out of the stock on the tick-down, for a money net flow of $141.75 million into the stock. Of all companies tracked, Boeing had the 9th highest net in-flow for the day. Boeing traded down ($10.60) for the day and closed at $331.90

A number of research firms have weighed in on BA. Morgan Stanley set a $400.00 target price on Boeing and gave the company a “hold” rating in a report on Friday, September 28th. Jefferies Financial Group lifted their target price on Boeing from $415.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Societe Generale set a $409.00 target price on Boeing and gave the company a “buy” rating in a report on Thursday, October 25th. Goldman Sachs Group set a $387.00 target price on Boeing and gave the company a “neutral” rating in a report on Wednesday, October 24th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $430.00 target price on shares of Boeing in a report on Monday, September 3rd. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $410.21.

The stock has a market cap of $188.48 billion, a PE ratio of 26.85, a PEG ratio of 1.65 and a beta of 1.30. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 8.07.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.47 by $0.11. The firm had revenue of $25.15 billion during the quarter, compared to the consensus estimate of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.72 EPS. As a group, equities analysts expect that Boeing Co will post 15.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 9th were given a $1.71 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $6.84 dividend on an annualized basis and a yield of 2.12%. Boeing’s payout ratio is 56.81%.

In related news, SVP Diana L. Sands sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $350.07, for a total value of $1,750,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jenette E. Ramos sold 1,640 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BA. Rehmann Capital Advisory Group increased its stake in Boeing by 3.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,559 shares of the aircraft producer’s stock worth $1,696,000 after purchasing an additional 145 shares during the period. Marshall Wace North America L.P. increased its stake in Boeing by 316.8% in the 3rd quarter. Marshall Wace North America L.P. now owns 152,565 shares of the aircraft producer’s stock worth $56,739,000 after purchasing an additional 115,963 shares during the period. Burleson & Company LLC increased its stake in Boeing by 61.5% in the 3rd quarter. Burleson & Company LLC now owns 1,273 shares of the aircraft producer’s stock worth $409,000 after purchasing an additional 485 shares during the period. Great Lakes Advisors LLC increased its stake in Boeing by 2.3% in the 3rd quarter. Great Lakes Advisors LLC now owns 62,391 shares of the aircraft producer’s stock worth $23,203,000 after purchasing an additional 1,413 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in Boeing by 105.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 5,612 shares of the aircraft producer’s stock worth $2,087,000 after purchasing an additional 2,885 shares during the period. Institutional investors own 69.64% of the company’s stock.

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About Boeing (NYSE:BA)

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.

See Also: Fundamental Analysis and Choosing Stocks

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