Boeing Co (NYSE:BA) has been assigned an average rating of “Buy” from the twenty-nine brokerages that are presently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $352.44.
BA has been the topic of several research analyst reports. Buckingham Research set a $289.00 price objective on Boeing and gave the stock a “hold” rating in a report on Thursday. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective on the stock in a report on Tuesday, January 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $345.00 price objective (up from $290.00) on shares of Boeing in a report on Thursday, February 1st. Robert W. Baird set a $433.00 price objective on Boeing and gave the stock a “buy” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a report on Tuesday, December 12th.
Shares of Boeing (NYSE:BA) opened at $329.66 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. Boeing has a twelve month low of $164.06 and a twelve month high of $361.45. The stock has a market capitalization of $196,340.00, a PE ratio of 24.49, a P/E/G ratio of 1.87 and a beta of 1.44.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a dividend of $1.71 per share. This is a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s payout ratio is currently 42.20%.
Boeing announced that its board has approved a stock buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after buying an additional 407,511 shares during the period. Jennison Associates LLC raised its position in shares of Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares during the period. Janus Henderson Group PLC raised its position in shares of Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares during the period. Ameriprise Financial Inc. raised its position in shares of Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after buying an additional 402,240 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Boeing by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,275,519 shares of the aircraft producer’s stock valued at $965,756,000 after purchasing an additional 122,278 shares during the period. 70.78% of the stock is currently owned by hedge funds and other institutional investors.
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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