Boeing (BA) Upgraded to “Buy” by Vetr

Vetr upgraded shares of Boeing (NYSE:BA) from a hold rating to a buy rating in a research report sent to investors on Monday. They currently have $343.92 price objective on the aircraft producer’s stock.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada set a $290.00 target price on Boeing and gave the company a hold rating in a research report on Wednesday, November 15th. Jefferies Group reiterated a buy rating and issued a $339.00 price target on shares of Boeing in a report on Monday, January 8th. JPMorgan Chase & Co. set a $325.00 price target on Boeing and gave the company a buy rating in a report on Tuesday, December 12th. Buckingham Research set a $203.00 price target on Boeing and gave the company a hold rating in a report on Thursday, December 28th. Finally, ValuEngine downgraded Boeing from a buy rating to a hold rating in a report on Thursday, December 7th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $353.24.

Shares of Boeing (NYSE:BA) opened at $343.80 on Monday. 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 firm has a market capitalization of $204,760.00, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. Boeing has a 1 year low of $166.35 and a 1 year high of $361.45.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. Boeing’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 EPS. equities research analysts predict that Boeing will post 14.01 earnings per share for the current year.

Boeing declared that its Board of Directors has authorized a stock buyback program on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.99%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is 50.82%.

In related news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in BA. LMR Partners LLP purchased a new stake in Boeing during the 2nd quarter valued at about $4,904,000. Allegis Investment Advisors LLC purchased a new stake in Boeing during the 2nd quarter valued at about $351,000. Blair William & Co. IL grew its stake in Boeing by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after purchasing an additional 6,141 shares during the last quarter. Alps Advisors Inc. grew its stake in Boeing by 46.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after purchasing an additional 1,532 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its stake in Boeing by 23.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after purchasing an additional 112,520 shares during the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.

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Boeing 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.

To view Vetr’s full report, visit Vetr’s official website.

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