Boeing Co (BA) CFO Gregory D. Smith Sells 19,500 Shares

Boeing Co (NYSE:BA) CFO Gregory D. Smith sold 19,500 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $401.38, for a total value of $7,826,910.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NYSE BA opened at $410.58 on Thursday. The company has a market capitalization of $229.94 billion, a P/E ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.31. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 25.99. Boeing Co has a 1-year low of $292.47 and a 1-year high of $413.88.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.96. The firm had revenue of $28.34 billion for the quarter, compared to analysts’ expectations of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. Boeing’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. On average, equities research analysts expect that Boeing Co will post 20.14 EPS for the current fiscal year.

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 issued a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, February 7th. This is a boost from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio is 51.34%.

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

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its holdings in shares of Boeing by 21,969.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,328,303 shares of the aircraft producer’s stock worth $125,000 after purchasing an additional 40,145,567 shares during the last quarter. Newport Trust Co boosted its holdings in shares of Boeing by 4.2% during the fourth quarter. Newport Trust Co now owns 33,492,259 shares of the aircraft producer’s stock worth $10,801,254,000 after purchasing an additional 1,363,909 shares during the last quarter. FMR LLC boosted its holdings in shares of Boeing by 15.1% during the third quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock worth $3,174,259,000 after purchasing an additional 1,119,587 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Boeing by 3.2% during the fourth quarter. Jennison Associates LLC now owns 7,817,279 shares of the aircraft producer’s stock worth $2,521,073,000 after purchasing an additional 245,100 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Boeing by 3.6% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 76.86% of the company’s stock.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Boeing to $450.00 and gave the stock an “overweight” rating in a research note on Monday. Sanford C. Bernstein reissued an “outperform” rating and set a $459.00 target price (up from $435.00) on shares of Boeing in a research note on Tuesday, February 5th. Jefferies Financial Group increased their target price on Boeing to $448.00 and gave the stock a “buy” rating in a research note on Monday, February 4th. Canaccord Genuity reaffirmed a “hold” rating and issued a $380.00 price objective (up from $360.00) on shares of Boeing in a research note on Thursday, January 31st. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $470.00 price objective on shares of Boeing in a research note on Thursday, January 31st. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $413.27.

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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.

Further Reading: Ex-Dividend

Insider Buying and Selling by Quarter for Boeing (NYSE:BA)

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