Newport Trust Co. has recently announced that it has increased stake in The Boeing Company (NYSE:BA) by 4.82%. After grabbing 34.3 million shares, the institutional investor is now in possession of 1.58 million shares of the Industrials Company. The new investment brought the stake of investor firm to 6.08% having worth around $5.42 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.53 million to have a control over 26.68 million shares. And Loomis, Sayles & Co. LP raised its holdings to 6.24 million shares by acquiring 9.39 million shares or 1.66% of the stake.
The Boeing Company (BA) concluded trading on 08/27/20 at a closing price of $174.20, with 29.3 million shares of worth about $5.1 billion changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 2.72% during that period and on Thursday the price saw a gain of about 1.34%. Currently the company’s common shares owned by public are about 566.40M shares, out of which, 563.80M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 26 analysts are covering the BA stock and their offered price forecasts bring an average price target of $183.91. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $270.00 and could fall to a lowest price of $125.00. Analysts also issued an outlook of 2.90 for the The Boeing Company stock for next 12 months. The stock’s current price level is -0.4% below of average price target set by the analysts, while a dip to estimated low would result in loss of -39.36 for the stock. However, touching the estimated high of $270.00 would mean a gain of 35.48% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 77 times over the past 12 months. They bought 134,618 shares in 37 of the transactions. In 40 selling transactions, insiders dumped 67,890 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR S&P 500 ETF are the top 3 mutual funds which are holding stakes in The Boeing Company Vanguard Total Stock Market Index is currently holding 15.24 million shares of worth totaling $2.41 billion. The company recently came selling 38615.0 shares which brought its stake up to 2.70% of the company’s outstanding shares. Vanguard 500 Index Fund sold 67588.0 shares, after which its hold over company’s outstanding shares shrunk to 1.96%, leaving 11.05 million shares with the mutual fund that have a worth of about $1.75 billion. SPDR S&P 500 ETF, after buying 5.75 million shares, have now control over 1.02% of the stake in the company. It holds 11628.0 shares of worth $908.64 million.
The Boeing Company (NYSE: BA) started trading at $174.71, above $2.81 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $174.20, or with a gain of 1.34%. Stock saw a price change of 2.72% in past 5 days and over the past one month there was a price change of 4.93%. Year-to-date (YTD), BA shares are showing a performance of -46.53% which decreased to -51.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $89.00 but also hit the highest price of $391.00 during that period. While comparing its average daily trading volume of 45.05 million shares, we see that about 29.3 million changed hands on the day. The stock is currently trading 1.72% above its 20-day simple moving average (SMA20), while that difference is down -1.25% for SMA50 and it goes to -24.11% lower than SMA200.
Newport Trust Co. acquired 34.3 million shares of The Boeing Company having value of about $5.42 billion. Data submitted at the U.S SEC by Newport Trust Co. revealed that the firm now holds 1.58 million shares in the company valued at close to $274728555.4, or have control over 4.82% stake in the company. The Boeing Company (NYSE: BA) currently have 566.40M outstanding shares and institutions hold larger chunk of about 53.60% of that. Holding of mutual funds in the company is about 24.20% while other institutional holders and individual stake holders have control over 28.86% and 0.87% of the stake respectively.
The stock has a current market capitalization of $99.55B and its 3Y-monthly beta is at 1.38. It has posted earnings per share of -$5.04 in the same period. It has Quick Ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BA, volatility over the week remained 3.77% while standing at 3.95% over the month.
Analysts are in expectations that The Boeing Company (BA) stock would likely to be making an EPS of -$2.1 in the current quarter, while forecast for next quarter ESPS is -$1.03 and it is $3.97 for next year. For the current quarter EPS, analysts have given the company a lowest target -$3.22 which is -$0.3 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -106.30% while it is estimated to increase by 142.80% in next year. EPS is likely to grow at an annualized rate of 12.33% for next 5-years, compared to annual growth of -16.60% made by the stock over the past 5-years.
Analysts at 26 brokerage firms have issued recommendations for the The Boeing Company (BA)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.90. Out of those 26 Wall Street analysts, 9 recommended a “Buy” rating, while 14 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on July 16, 2020 offering an Underperform rating for the stock and assigned a target price of to it. Coverage by Bernstein stated The Boeing Company (BA) stock as a Mkt perform in their note to investors on June 26, 2020, suggesting a price target of $165 for the stock. On June 25, 2020, Berenberg Downgrade their recommendations, while on June 08, 2020, Seaport Global Securities Initiated their ratings for the stock with a price target of $277. Stock get an Outperform rating from RBC Capital Mkts on May 21, 2020.