Boeing Co (NYSE:BA) Sees Large Drop in Short Interest
Boeing Co (NYSE:BA) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 4,319,600 shares, a drop of 23.3% from the June 15th total of 5,631,200 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 4,460,000 shares, the short-interest ratio is presently 1.0 days.
Hedge funds and other institutional investors have recently bought and sold shares of the business. NuWave Investment Management LLC lifted its holdings in Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 61 shares during the period. Nordea Investment Management AB lifted its holdings in Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after buying an additional 41 shares during the period. Guidant Wealth Advisors acquired a new position in Boeing in the second quarter valued at $28,000. Next Capital Management LLC acquired a new position in Boeing in the fourth quarter valued at $32,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in Boeing in the fourth quarter valued at $40,000. 67.92% of the stock is currently owned by hedge funds and other institutional investors.
BA traded down $3.09 during trading on Friday, hitting $345.00. 4,437,808 shares of the stock traded hands, compared to its average volume of 4,531,097. Boeing has a twelve month low of $292.47 and a twelve month high of $446.01. The firm has a market cap of $195.87 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.30. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The business’s 50 day moving average is $361.04.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 9th will be paid a dividend of $2.055 per share. The ex-dividend date is Thursday, August 8th. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.38%. Boeing’s payout ratio is presently 51.34%.
BA has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday. Goldman Sachs Group set a €135.00 ($156.98) price objective on SAP and gave the company a “buy” rating in a report on Friday, July 12th. Cowen set a $460.00 price objective on Boeing and gave the company a “buy” rating in a report on Friday, July 19th. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. Finally, UBS Group lifted their price target on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Boeing presently has a consensus rating of “Hold” and a consensus price target of $403.79.
Boeing Company Profile
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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