J Michael Luttig Sells 8,500 Shares of Boeing Co (BA) Stock

Boeing Co (NYSE:BA) EVP J Michael Luttig sold 8,500 shares of Boeing stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $410.46, for a total value of $3,488,910.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

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

Boeing declared that its board has initiated a share buyback plan on Monday, December 17th that authorizes the company to buyback $20.00 billion in 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 often a sign that the company’s board of directors believes its stock is undervalued.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. grace capital purchased a new position in Boeing in the 2nd quarter valued at approximately $2,996,000. Krilogy Financial LLC grew its holdings in Boeing by 3.5% in the 2nd quarter. Krilogy Financial LLC now owns 6,953 shares of the aircraft producer’s stock valued at $2,333,000 after buying an additional 232 shares during the period. Morse Asset Management Inc grew its stake in shares of Boeing by 3.0% in the second quarter. Morse Asset Management Inc now owns 22,919 shares of the aircraft producer’s stock worth $7,690,000 after purchasing an additional 674 shares in the last quarter. Heritage Trust Co grew its holdings in Boeing by 10.2% in the 2nd quarter. Heritage Trust Co now owns 2,297 shares of the aircraft producer’s stock valued at $770,000 after buying an additional 213 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of Boeing by 1.5% during the third quarter. First Republic Investment Management Inc. now owns 283,170 shares of the aircraft producer’s stock worth $105,311,000 after purchasing an additional 4,119 shares during the period. 76.86% of the stock is owned by institutional investors and hedge funds.

BA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $407.00 target price for the company in a report on Friday, October 26th. 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. Canaccord Genuity restated a “hold” rating and set a $380.00 target price (up previously from $360.00) on shares of Boeing in a report on Thursday, January 31st. Credit Suisse Group reaffirmed an “outperform” rating and set a $440.00 price objective (up from $434.00) on shares of Boeing in a report on Thursday, January 31st. Finally, Cowen reissued a “buy” rating and issued a $445.00 price target on shares of Boeing in a report on Tuesday, December 18th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target 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.

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

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