Boeing (BA) Price Target Raised to $450.00

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Boeing (NYSE:BA) had its price objective boosted by JPMorgan Chase & Co. to $450.00 in a report published on Monday, The Fly reports. The brokerage currently has an overweight rating on the aircraft producer’s stock.

BA has been the topic of a number of other research reports. Cowen reaffirmed a buy rating and set a $445.00 price target on shares of Boeing in a research note on Tuesday, December 18th. Tigress Financial reiterated a buy rating on shares of Boeing in a research note on Monday, November 26th. Jefferies Financial Group set a $420.00 price target on shares of Boeing and gave the stock a buy rating in a research note on Tuesday, November 13th. Zacks Investment Research raised shares of Boeing from a hold rating to a buy rating and set a $407.00 target price on the stock in a research note on Friday, October 26th. Finally, Societe Generale set a $409.00 target price on Boeing and gave the company a buy rating in a research report on Thursday, October 25th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Boeing presently has an average rating of Buy and a consensus target price of $413.27.

Shares of BA opened at $410.58 on Monday. Boeing has a 1 year low of $292.47 and a 1 year high of $413.88. The company has a debt-to-equity ratio of 25.99, a quick ratio of 0.31 and a current ratio of 1.08. The firm has a market capitalization of $229.94 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.31.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, beating the Zacks’ consensus estimate of $4.52 by $0.96. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The firm had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. During the same period in the prior year, the firm posted $3.04 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Research analysts anticipate that Boeing will post 20.14 earnings per share for the current fiscal year.

Boeing announced that its board has approved a stock repurchase plan on Monday, December 17th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be paid a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $8.22 annualized dividend and a yield of 2.00%. This is a boost from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio is currently 51.34%.

In related news, EVP Timothy John Keating sold 26,557 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Theodore Colbert III sold 2,137 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $408.85, for a total transaction of $873,712.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,331 shares of company stock worth $27,724,967. 0.24% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Kings Point Capital Management boosted its stake in Boeing by 0.9% in the 4th quarter. Kings Point Capital Management now owns 30,128 shares of the aircraft producer’s stock worth $9,716,000 after buying an additional 264 shares during the last quarter. BOKF NA boosted its stake in Boeing by 13.4% during the fourth quarter. BOKF NA now owns 57,823 shares of the aircraft producer’s stock worth $18,649,000 after acquiring an additional 6,845 shares in the last quarter. RMB Capital Management LLC increased its stake in Boeing by 24.2% in the 4th quarter. RMB Capital Management LLC now owns 8,754 shares of the aircraft producer’s stock worth $2,823,000 after buying an additional 1,706 shares during the period. Thoroughbred Financial Services LLC acquired a new position in Boeing in the fourth quarter valued at about $5,325,000. Finally, Geode Capital Management LLC increased its position in Boeing by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock worth $2,015,856,000 after purchasing an additional 214,945 shares in the last quarter. 76.86% of the stock is currently owned by institutional investors.

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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