The Vanguard Group, Inc. has recently announced that it has increased stake in Boeing Co. (NYSE:BA) by 0.72%. After grabbing 45.39 million shares, the institutional investor is now in possession of 0.33 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.50% having worth around $8.48 billion. Moreover, BlackRock Fund Advisors increased its share by 24835.0 to have a control over 28.31 million shares. And Capital Research & Management Co raised its holdings to 1.34 million shares by acquiring 12.45 million shares or 2.06% of the stake.
Boeing Co. (BA) concluded trading on 12/06/23 at a closing price of $236.89, with 4.54 million shares of worth about $1.08 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.78% during that period and on Wednesday the price saw a gain of about 1.17%. Currently the company’s common shares owned by public are about 604.98M shares, out of which, 604.08M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 30 analysts are covering the BA stock and their offered price forecasts bring an average price target of $252.24. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $300.00 and could fall to a lowest price of $190.00. The stock’s current price level is 6.09% above of average price target set by the analysts, while a rise to estimated low would result in loss of -24.68% for the stock. However, touching the estimated high of $300.00 would mean a gain of 21.04% 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 28 times over the past 12 months. They bought 195,257 shares in 15 of the transactions. In 13 selling transactions, insiders dumped 23,629 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame are the top 3 mutual funds which are holding stakes in Boeing Co. Vanguard Total Stock Market ETF is currently holding 18.88 million shares of worth totaling $3.53 billion. The company recently came buying 94065.0 shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard 500 Index Fund bought 65684.0 shares, after which its hold over company’s outstanding shares expand to 2.26%, leaving 13.69 million shares with the mutual fund that have a worth of about $2.56 billion. American Funds Growth Fund of Ame, after buying 7.17 million shares, have now control over 1.19% of the stake in the company. It holds 0.27 million shares of worth $1.34 billion.
Boeing Co. (NYSE: BA) started trading at $234.78, above $0.62 from concluding price of the previous day. However, the stock later moved at a day high price of 239.23, or with a gain of 1.17%. Stock saw a price change of 5.55% in past 5 days and over the past one month there was a price change of 22.77%. Year-to-date (YTD), BA shares are showing a performance of 24.36% which increased to 27.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $174.62 but also hit the highest price of $243.10 during that period. The average intraday trading volume for Boeing Co. shares is 5.45 million. The stock is currently trading 10.56% above its 20-day simple moving average (SMA20), while that difference is up 19.55% for SMA50 and it goes to 13.54% higher than SMA200.
The Vanguard Group, Inc. acquired 45.39 million shares of Boeing Co. having value of about $8.48 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.33 million shares in the company valued at close to $77065291.69, or have control over 0.72% stake in the company. Boeing Co. (NYSE: BA) currently have 604.98M outstanding shares and institutions hold larger chunk of about 62.54% of that. Holding of mutual funds in the company is about 31.11% while other institutional holders and individual stake holders have control over 31.56% and 0.93% of the stake respectively.
The stock has a current market capitalization of $143.31B and its 3Y-monthly beta is at 1.58. It has posted earnings per share of -$4.69 in the same period. It has Quick Ratio of 0.30. 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 2.17% while standing at 1.83% over the month.
Analysts are in expectations that Boeing Co. (BA) stock would likely to be making an EPS of -$0.89 in the current quarter, while forecast for next quarter EPS is $0.24 and it is $3.98 for next year. For the current quarter EPS, analysts have given the company a lowest target -$2.2 which is $0.24 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 -$1.75 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 44.75% while it is estimated to increase by 171.45% in next year.
Analysts at 30 brokerage firms have issued recommendations for the Boeing Co. (BA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.53. Out of those 30 Wall Street analysts, 20 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 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 Stifel on December 01, 2023 offering a Buy rating for the stock and assigned a target price of $265 to it.
