Vetr upgraded shares of Boeing (NYSE:BA) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $369.18 price target on the aircraft producer’s stock.
Several other research analysts have also commented on BA. Credit Suisse Group reissued an outperform rating and set a $310.00 price objective (up previously from $300.00) on shares of Boeing in a report on Tuesday, October 24th. Morgan Stanley upped their target price on Boeing from $260.00 to $285.00 and gave the stock an equal weight rating in a research note on Tuesday, October 24th. Royal Bank of Canada upped their target price on Boeing from $269.00 to $273.00 and gave the stock a sector perform rating in a research note on Thursday, October 26th. Canaccord Genuity upped their target price on Boeing from $245.00 to $250.00 and gave the stock a hold rating in a research note on Thursday, October 26th. Finally, Cowen reaffirmed a buy rating and issued a $315.00 target price on shares of Boeing in a research note on Thursday, October 26th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Boeing presently has a consensus rating of Buy and an average price target of $354.25.
Boeing (NYSE:BA) opened at $355.92 on Tuesday. Boeing has a twelve month low of $173.75 and a twelve month high of $361.45. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74. The company has a market capitalization of $211,980.00, a PE ratio of 30.34, a PEG ratio of 1.83 and a beta of 1.44.
Boeing announced that its Board of Directors has authorized a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a $1.71 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.84 annualized dividend and a yield of 1.92%. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s payout ratio is presently 58.31%.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Allegis Investment Advisors LLC bought a new position in shares of Boeing during the second quarter valued at approximately $351,000. Blair William & Co. IL raised its holdings in shares of Boeing by 4.1% during the second quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after acquiring an additional 6,141 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Boeing by 46.4% during the second quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after acquiring an additional 1,532 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in shares of Boeing by 1.2% during the second quarter. Texas Yale Capital Corp. now owns 25,499 shares of the aircraft producer’s stock valued at $5,042,000 after acquiring an additional 305 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in shares of Boeing by 23.2% during the second quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after acquiring an additional 112,520 shares in the last quarter. Hedge funds and other institutional investors own 70.88% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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