Boeing (BA) Shares Gap Down After Insider Selling

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Boeing Co (NYSE:BA) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $364.51, but opened at $357.03. Boeing shares last traded at $349.51, with a volume of 4957666 shares traded.

Specifically, SVP Diana L. Sands sold 5,000 shares of the company’s stock in a transaction on Monday, October 29th. The stock was 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 through this hyperlink. Also, SVP Jenette E. Ramos sold 1,640 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

A number of brokerages recently commented on BA. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $407.00 price objective for the company in a research note on Friday, October 26th. JPMorgan Chase & Co. restated a “buy” rating and set a $400.00 price objective on shares of Boeing in a research note on Thursday, July 26th. Cowen restated a “buy” rating and set a $445.00 price objective on shares of Boeing in a research note on Tuesday. Jefferies Financial Group upped their price objective on Boeing from $415.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. Finally, Canaccord Genuity restated a “hold” rating and set a $360.00 price objective (up from $350.00) on shares of Boeing in a research note on Thursday, October 25th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $410.21.

The company has a market capitalization of $209.74 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.10 and a quick ratio of 0.32.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 4,176.41% and a net margin of 10.36%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.72 earnings per share. On average, sell-side analysts anticipate that Boeing Co will post 15.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $6.84 annualized dividend and a dividend yield of 1.96%. Boeing’s dividend payout ratio (DPR) is 56.81%.

Several institutional investors have recently made changes to their positions in the company. Evercore Wealth Management LLC lifted its holdings in shares of Boeing by 37.9% in the third quarter. Evercore Wealth Management LLC now owns 4,896 shares of the aircraft producer’s stock valued at $1,821,000 after buying an additional 1,346 shares during the period. Plancorp LLC lifted its holdings in shares of Boeing by 0.5% in the third quarter. Plancorp LLC now owns 34,026 shares of the aircraft producer’s stock valued at $12,654,000 after buying an additional 175 shares during the period. First Republic Investment Management Inc. lifted its holdings in shares of Boeing by 1.5% in the third quarter. First Republic Investment Management Inc. now owns 283,170 shares of the aircraft producer’s stock valued at $105,311,000 after buying an additional 4,119 shares during the period. Assetmark Inc. lifted its holdings in shares of Boeing by 4.5% in the third quarter. Assetmark Inc. now owns 121,264 shares of the aircraft producer’s stock valued at $45,098,000 after buying an additional 5,179 shares during the period. Finally, Accident Compensation Corp lifted its holdings in shares of Boeing by 58.3% in the third quarter. Accident Compensation Corp now owns 1,900 shares of the aircraft producer’s stock valued at $707,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

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About Boeing (NYSE:BA)

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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