Boeing (BA) Shares Gap Down to $327.44

Boeing (NYSE:BA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $342.58, but opened at $327.44. Boeing shares last traded at $335.76, with a volume of 3524667 shares traded.

A number of equities analysts have recently weighed in on BA shares. Sanford C. Bernstein upped their price target on shares of Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Cowen reaffirmed a “buy” rating and issued a $320.00 price target on shares of Boeing in a research note on Monday, December 11th. JPMorgan Chase set a $325.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Bank of America set a $320.00 price target on shares of Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 price target on the stock in a research note on Tuesday, January 2nd. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $365.19.

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The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74. The firm has a market cap of $192,695.27, a PE ratio of 27.09, a PEG ratio of 1.69 and a beta of 1.39.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same period in the prior year, the company earned $2.47 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. equities analysts forecast that Boeing will post 14.05 EPS for the current fiscal year.

Boeing announced that its board has initiated a share buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Boeing by 2.1% in the fourth quarter. BlackRock Inc. now owns 35,515,544 shares of the aircraft producer’s stock valued at $10,473,889,000 after buying an additional 713,832 shares during the period. Jennison Associates LLC lifted its stake in shares of Boeing by 20.3% in the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares during the period. Geode Capital Management LLC lifted its stake in shares of Boeing by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 5,811,840 shares of the aircraft producer’s stock valued at $1,710,303,000 after buying an additional 296,949 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Boeing by 7,215.0% in the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Boeing by 1.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,427,749 shares of the aircraft producer’s stock valued at $1,010,877,000 after buying an additional 41,260 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.

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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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