Short Interest in Boeing Co. (BA) Declines By 15.4%
Boeing Co. (NYSE:BA) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 23,242,178 shares, a decrease of 15.4% from the September 15th total of 27,484,810 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average daily trading volume, of 3,082,251 shares, the days-to-cover ratio is currently 7.5 days.
Several equities research analysts have recently weighed in on BA shares. Deutsche Bank AG reiterated a “buy” rating and issued a $160.00 price target on shares of Boeing in a report on Monday, June 20th. Jefferies Group restated a “buy” rating on shares of Boeing in a report on Wednesday, July 6th. Drexel Hamilton restated a “buy” rating and set a $158.00 price objective on shares of Boeing in a report on Friday, July 15th. Argus restated a “buy” rating and set a $155.00 price objective on shares of Boeing in a report on Wednesday, August 3rd. Finally, Citigroup Inc. reduced their price objective on Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $147.94.
In other news, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Randall L. Stephenson purchased 1,871 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was acquired at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the completion of the acquisition, the director now owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The disclosure for this purchase can be found here. 0.58% of the stock is owned by insiders.
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Institutional investors have recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp increased its stake in shares of Boeing by 0.4% in the first quarter. Peapack Gladstone Financial Corp now owns 54,326 shares of the aircraft producer’s stock valued at $6,896,000 after buying an additional 215 shares during the period. Marietta Investment Partners LLC acquired a new stake in shares of Boeing during the first quarter valued at $515,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Boeing during the first quarter valued at $13,512,000. Adell Harriman & Carpenter Inc. increased its stake in shares of Boeing by 27.3% in the first quarter. Adell Harriman & Carpenter Inc. now owns 5,828 shares of the aircraft producer’s stock valued at $740,000 after buying an additional 1,250 shares during the period. Finally, Hikari Power Ltd acquired a new stake in shares of Boeing during the first quarter valued at $3,618,000. Institutional investors own 75.49% of the company’s stock.
Shares of Boeing (NYSE:BA) opened at 134.00 on Tuesday. The firm’s 50-day moving average price is $131.42 and its 200 day moving average price is $131.26. Boeing has a 1-year low of $102.10 and a 1-year high of $150.59. The stock has a market capitalization of $83.59 billion, a price-to-earnings ratio of 24.12 and a beta of 1.03.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company earned $24.80 million during the quarter, compared to the consensus estimate of $23.22 million. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Boeing’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that Boeing will post $6.29 earnings per share for the current fiscal year.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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