Boeing Co (NYSE:BA) – Analysts at Jefferies Financial Group increased their FY2022 earnings per share (EPS) estimates for shares of Boeing in a research report issued on Wednesday, January 9th. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the aircraft producer will post earnings per share of $24.70 for the year, up from their prior estimate of $23.75. Jefferies Financial Group currently has a “Buy” rating and a $420.00 target price on the stock.
BA has been the topic of several other research reports. Cowen reissued a “buy” rating and issued a $445.00 price target on shares of Boeing in a report on Monday, October 1st. Morgan Stanley set a $400.00 price target on shares of Boeing and gave the stock a “hold” rating in a research note on Friday, September 28th. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Sanford C. Bernstein lifted their target price on Boeing from $426.00 to $440.00 and gave the company a “positive” rating in a research report on Friday, October 26th. Finally, Credit Suisse Group lifted their price objective on Boeing from $455.00 to $456.00 and gave the stock an “outperform” rating in a research note on Thursday, October 25th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $411.36.
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 consensus estimate of $3.47 by $0.11. The business had revenue of $25.15 billion for the quarter, compared to the consensus estimate of $23.84 billion. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.72 earnings per share.
Boeing announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the aircraft producer to buy up to 11.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be issued a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, February 7th. This is a positive change from Boeing’s previous quarterly dividend of $1.71. Boeing’s payout ratio is currently 56.81%.
In other news, SVP Diana L. Sands sold 5,000 shares of Boeing 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jenette E. Ramos sold 1,640 shares of Boeing stock in a transaction that occurred 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 owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Janus Henderson Group PLC lifted its position in Boeing by 23.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after purchasing an additional 1,121,675 shares during the last quarter. FMR LLC increased its holdings in Boeing by 15.1% in the 3rd quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock valued at $3,174,259,000 after buying an additional 1,119,587 shares during the period. Capital International Investors grew its holdings 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 purchasing an additional 1,002,825 shares during the last quarter. Boston Partners acquired a new position in Boeing during the 2nd quarter worth about $328,421,000. Finally, Winslow Capital Management LLC lifted its position in 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 purchasing an additional 406,078 shares during the period. 69.61% of the stock is owned by hedge funds and other institutional investors.
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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