Key Points
- Boeing EVP David Raymond sold 2,994 shares for about $524,000, reducing his stake by 7.22%; he retained 38,456 shares.
- Boeing’s latest quarterly revenue of $24.19 billion beat estimates, but its adjusted loss of $0.34 per share was wider than analysts expected.
- Analysts have a consensus “Moderate Buy” rating and an average price target of $247.88, though recent target cuts included Morgan Stanley’s reduction to $195.
The Boeing Company (NYSE:BA - Get Free Report) EVP David Raymond sold 2,994 shares of Boeing stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $174.91, for a total value of $523,680.54. Following the completion of the sale, the executive vice president owned 38,456 shares in the company, valued at approximately $6,726,338.96. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Boeing Price Performance
Shares of Boeing stock opened at $171.53 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.13 and a debt-to-equity ratio of 6.31. The company has a market cap of $135.93 billion, a PE ratio of 18.66 and a beta of 1.34. The business has a 50 day moving average of $189.59 and a 200 day moving average of $213.86. The Boeing Company has a 52 week low of $165.01 and a 52 week high of $254.35.
Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.09). The business had revenue of $24.19 billion during the quarter, compared to analysts' expectations of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($7.47) EPS. As a group, equities research analysts forecast that The Boeing Company will post -1.84 earnings per share for the current year.
Institutional Investors Weigh In On Boeing
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Novare Capital Management LLC increased its stake in shares of Boeing by 77.0% in the 3rd quarter. Novare Capital Management LLC now owns 1,943 shares of the aircraft producer's stock worth $362,000 after acquiring an additional 845 shares in the last quarter. Smith Moore & CO. lifted its position in Boeing by 3.0% during the 3rd quarter. Smith Moore & CO. now owns 2,510 shares of the aircraft producer's stock valued at $467,000 after acquiring an additional 73 shares during the period. N.F.U. MUTUAL UNIT MANAGERS Ltd purchased a new position in Boeing during the 3rd quarter valued at about $2,021,000. Gabelli Funds LLC boosted its stake in Boeing by 0.3% during the third quarter. Gabelli Funds LLC now owns 172,868 shares of the aircraft producer's stock worth $32,162,000 after acquiring an additional 491 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in Boeing by 13.9% during the third quarter. Meeder Advisory Services Inc. now owns 14,077 shares of the aircraft producer's stock worth $2,619,000 after acquiring an additional 1,713 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
Key Boeing News
These are some of the BA news items that stood out recently:
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Scotiabank raised shares of Boeing to an "outperform" rating in a research report on Wednesday, October 28th. Morgan Stanley reduced their price target on shares of Boeing from $225.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 28th. Wells Fargo & Company decreased their price target on shares of Boeing from $250.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, October 28th. Citigroup downgraded shares of Boeing from a "buy" rating to a "sell" rating in a research note on Tuesday, August 11th. Finally, TD Cowen lowered their price objective on shares of Boeing from $240.00 to $210.00 and set a "buy" rating for the company in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus price target of $247.88.
View Our Latest Research Report on Boeing
About Boeing
(
Get Free Report)
The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing's defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.
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