Boeing (BA) Price Target Raised to $450.00

Boeing (NYSE:BA) had its price target raised by JPMorgan Chase & Co. to $450.00 in a report published on Monday, The Fly reports. They currently have an overweight rating on the aircraft producer’s stock.

BA has been the topic of a number of other research reports. Goldman Sachs Group set a $387.00 target price on Boeing and gave the company a neutral rating in a report on Wednesday, October 24th. Argus restated a fair value rating and issued a $395.00 price objective on shares of Boeing in a report on Thursday, October 25th. Jefferies Financial Group set a $420.00 price target on shares of Boeing and gave the stock a buy rating in a research report on Tuesday, November 13th. Sanford C. Bernstein boosted their price target on Boeing from $426.00 to $440.00 and gave the stock a positive rating in a research report on Friday, October 26th. Finally, Robert W. Baird reissued an outperform rating and issued a $470.00 target price on shares of Boeing in a research note on Thursday, January 31st. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $413.27.

Shares of NYSE:BA opened at $410.58 on Monday. Boeing has a 52-week low of $292.47 and a 52-week high of $413.88. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. The company has a market capitalization of $229.94 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.31.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, beating the consensus estimate of $4.52 by $0.96. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The company had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. During the same period in the prior year, the firm posted $3.04 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. On average, analysts anticipate that Boeing will post 20.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be issued a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Thursday, February 7th. Boeing’s dividend payout ratio (DPR) is presently 51.34%.

Boeing announced that its Board of Directors has authorized a stock buyback program on Monday, December 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to purchase up to 11.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, SVP Theodore Colbert III sold 2,137 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $408.85, for a total transaction of $873,712.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy John Keating sold 26,557 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,331 shares of company stock valued at $27,724,967. 0.24% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of BA. Oregon Public Employees Retirement Fund boosted its holdings in Boeing by 21,969.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,328,303 shares of the aircraft producer’s stock worth $125,000 after acquiring an additional 40,145,567 shares during the last quarter. Newport Trust Co increased its stake in Boeing by 4.2% in the fourth quarter. Newport Trust Co now owns 33,492,259 shares of the aircraft producer’s stock valued at $10,801,254,000 after acquiring an additional 1,363,909 shares during the period. FMR LLC lifted its stake in shares of Boeing by 15.1% during the 3rd quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock worth $3,174,259,000 after buying an additional 1,119,587 shares during the last quarter. Capital International Investors grew its stake in shares of Boeing by 26.1% in the 3rd quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock worth $1,802,956,000 after acquiring an additional 1,002,825 shares in the last quarter. Finally, Winslow Capital Management LLC grew its stake in shares of Boeing by 50.1% during the 3rd quarter. Winslow Capital Management LLC now owns 1,217,030 shares of the aircraft producer’s stock valued at $452,613,000 after acquiring an additional 406,078 shares during the period. Institutional investors own 76.86% of the company’s stock.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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The Fly

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