Barclays started coverage on shares of Boeing (NYSE:BA) in a report released on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $388.00 target price on the aircraft producer’s stock.
Several other analysts also recently commented on BA. Morgan Stanley set a $373.00 price objective on shares of Boeing and gave the company a hold rating in a research report on Thursday, March 22nd. Vetr downgraded shares of Boeing from a strong-buy rating to a buy rating and set a $386.80 price objective on the stock. in a research report on Thursday, March 8th. Societe Generale set a $373.00 target price on shares of Boeing and gave the company a neutral rating in a research note on Thursday, February 1st. JPMorgan Chase reaffirmed a buy rating on shares of Boeing in a research note on Wednesday, March 14th. Finally, Buckingham Research set a $289.00 target price on shares of Boeing and gave the company a hold rating in a research note on Thursday, February 8th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Boeing presently has an average rating of Buy and an average price target of $365.99.
Shares of BA stock opened at $327.88 on Thursday. The firm has a market cap of $192,954.09, a PE ratio of 27.23, a PEG ratio of 1.70 and a beta of 1.37. Boeing has a one year low of $175.47 and a one year high of $371.60. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16.
Boeing declared that its Board of Directors has approved a share repurchase program on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of Boeing stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.
Several large investors have recently modified their holdings of BA. Beach Investment Management LLC. purchased a new position in shares of Boeing during the 2nd quarter worth about $429,000. Edmonds Duncan Registered Investment Advisors LLC boosted its stake in shares of Boeing by 170.1% during the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 3,652 shares of the aircraft producer’s stock worth $722,000 after purchasing an additional 2,300 shares during the period. Captrust Financial Advisors purchased a new position in shares of Boeing during the 2nd quarter worth about $325,000. Bahl & Gaynor Inc. boosted its stake in shares of Boeing by 1.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 2,336 shares of the aircraft producer’s stock worth $364,000 after purchasing an additional 37 shares during the period. Finally, Bruderman Asset Management LLC boosted its stake in shares of Boeing by 28.8% during the 2nd quarter. Bruderman Asset Management LLC now owns 27,594 shares of the aircraft producer’s stock worth $5,457,000 after purchasing an additional 6,163 shares during the period. 70.76% of the stock is owned by institutional investors and hedge funds.
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Boeing Company Profile
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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