Vetr upgraded shares of Boeing (NYSE:BA) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $369.18 price target on the aircraft producer’s stock.
Several other brokerages have also recently issued reports on BA. Canaccord Genuity boosted their price target on shares of Boeing from $290.00 to $345.00 and gave the company a hold rating in a research report on Thursday, February 1st. Wells Fargo & Co restated a market perform rating and issued a $365.00 price objective (up previously from $330.00) on shares of Boeing in a report on Thursday, February 1st. ValuEngine upgraded shares of Boeing from a hold rating to a buy rating in a report on Friday, February 2nd. Royal Bank of Canada set a $363.00 price objective on shares of Boeing and gave the stock a neutral rating in a report on Wednesday, January 31st. Finally, Cowen restated a buy rating and issued a $415.00 price objective on shares of Boeing in a report on Wednesday, January 31st. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $354.25.
Boeing (NYSE BA) opened at $353.35 on Tuesday. Boeing has a 52-week low of $173.68 and a 52-week high of $361.45. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. The stock has a market cap of $210,450.00, a PE ratio of 30.12, a P/E/G ratio of 1.84 and a beta of 1.44.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, February 8th. This is an increase from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is currently 58.31%.
Boeing declared that its Board of Directors has initiated a stock repurchase program on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Riverpoint Wealth Management Holdings LLC lifted its position in Boeing by 0.3% during the second quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after purchasing an additional 4 shares during the period. Arete Wealth Advisors LLC lifted its position in Boeing by 0.4% during the second quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after purchasing an additional 9 shares during the period. High Falls Advisors Inc lifted its position in Boeing by 0.3% during the second quarter. High Falls Advisors Inc now owns 3,520 shares of the aircraft producer’s stock valued at $696,000 after purchasing an additional 11 shares during the period. Arcus Capital Partners LLC lifted its position in Boeing by 0.7% during the second quarter. Arcus Capital Partners LLC now owns 1,640 shares of the aircraft producer’s stock valued at $324,000 after purchasing an additional 12 shares during the period. Finally, Strategic Advisors LLC raised its position in Boeing by 1.0% in the second quarter. Strategic Advisors LLC now owns 2,021 shares of the aircraft producer’s stock worth $400,000 after acquiring an additional 20 shares during the period. Institutional investors own 70.88% of the company’s stock.
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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