Boeing (BA) Downgraded to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Boeing (NYSE:BA) from an overweight rating to an equal weight rating in a report released on Thursday morning, The Fly reports. They currently have $450.00 price objective on the aircraft producer’s stock, up from their previous price objective of $400.00.

Several other brokerages have also recently commented on BA. Goldman Sachs Group set a $387.00 price target on shares of Boeing and gave the stock a neutral rating in a research report on Wednesday, October 24th. Credit Suisse Group raised their price objective on shares of Boeing from $455.00 to $456.00 and gave the stock an outperform rating in a research report on Thursday, October 25th. Cowen reissued a buy rating and set a $445.00 price objective on shares of Boeing in a report on Tuesday, November 13th. Sanford C. Bernstein upped their target price on Boeing from $426.00 to $440.00 and gave the company a positive rating in a report on Friday, October 26th. Finally, Argus reaffirmed a fair value rating and set a $395.00 price target on shares of Boeing in a report on Thursday, October 25th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Boeing currently has a consensus rating of Buy and a consensus target price of $411.36.

NYSE:BA traded up $0.29 during trading hours on Thursday, reaching $352.90. 3,153,342 shares of the stock were exchanged, compared to its average volume of 4,382,707. Boeing has a twelve month low of $292.47 and a twelve month high of $394.28. The stock has a market capitalization of $195.26 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $0.11. The company had revenue of $25.15 billion during the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.72 EPS. As a group, equities analysts predict that Boeing will post 15.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be paid a dividend of $2.055 per share. This is a positive change from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date is Thursday, February 7th. This represents a $8.22 annualized dividend and a dividend yield of 2.33%. Boeing’s dividend payout ratio is 56.81%.

Boeing announced that its board has authorized a stock repurchase plan on Monday, December 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the aircraft producer to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, SVP Diana L. Sands sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jenette E. Ramos sold 1,640 shares of Boeing stock in a transaction on Friday, November 9th. The shares were sold at an average price of $367.52, for a total transaction of $602,732.80. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. raised its position in Boeing by 412.1% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 297 shares of the aircraft producer’s stock valued at $96,000 after purchasing an additional 239 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Boeing in the second quarter valued at $101,000. Interactive Financial Advisors purchased a new position in shares of Boeing during the third quarter worth about $112,000. Rational Advisors LLC boosted its holdings in Boeing by 159.5% in the 3rd quarter. Rational Advisors LLC now owns 327 shares of the aircraft producer’s stock valued at $122,000 after purchasing an additional 201 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Boeing during the 2nd quarter valued at approximately $125,000. Institutional investors own 69.61% 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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