Cowen and Company restated their outperform rating on shares of Boeing Company (The) (NYSE:BA) in a research report released on Monday, July 24th. They currently have a $300.00 target price on the aircraft producer’s stock, up from their previous target price of $255.00.
“Today’s WSJ article on BA’s declining headcount neglects to emphasize that.”,” Cowen and Company’s analyst wrote.
A number of other research firms have also weighed in on BA. Credit Suisse Group reissued a hold rating on shares of Boeing Company (The) in a research report on Wednesday, July 19th. Berenberg Bank set a $245.00 target price on shares of Boeing Company (The) and gave the stock a buy rating in a research report on Friday, July 21st. Zacks Investment Research raised shares of Boeing Company (The) from a hold rating to a buy rating and set a $236.00 target price on the stock in a research report on Friday, July 21st. ValuEngine lowered shares of Boeing Company (The) from a buy rating to a hold rating in a research report on Monday, July 17th. Finally, Bank of America Corporation raised shares of Boeing Company (The) from an underperform rating to a neutral rating and raised their target price for the stock from $150.00 to $225.00 in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $230.62.
Boeing Company (The) (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.23. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The company had revenue of $22.74 billion for the quarter, compared to analyst estimates of $22.97 billion. During the same period in the prior year, the company posted ($0.44) EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts expect that Boeing Company will post $9.99 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.41%. Boeing Company (The)’s dividend payout ratio is currently 49.74%.
In related news, Chairman Dennis A. Muilenburg sold 56,838 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $243.46, for a total transaction of $13,837,779.48. Following the completion of the transaction, the chairman now owns 127,778 shares of the company’s stock, valued at $31,108,831.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Thomas J. Downey sold 134 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $241.20, for a total transaction of $32,320.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,468 shares of company stock valued at $20,353,814. 0.28% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bridgeworth LLC acquired a new position in shares of Boeing Company (The) during the fourth quarter valued at about $344,000. CAMG Solamere Management LLC purchased a new position in Boeing Company (The) during the fourth quarter worth $846,000. Cypress Wealth Advisors LLC purchased a new position in Boeing Company (The) during the fourth quarter worth $268,000. Cigna Investments Inc. New purchased a new position in Boeing Company (The) during the fourth quarter worth $3,339,000. Finally, L & S Advisors Inc purchased a new position in Boeing Company (The) during the fourth quarter worth $246,000. 74.44% of the stock is owned by hedge funds and other institutional investors.
Boeing Company (The) Company Profile
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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