Boeing Co (NYSE:BA) Sees Significant Growth in Short Interest

Boeing Co (NYSE:BA) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 5,631,200 shares, an increase of 11.1% from the May 30th total of 5,069,500 shares. Based on an average daily trading volume, of 4,830,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.0% of the shares of the stock are sold short.

A number of hedge funds have recently modified their holdings of the stock. Regent Investment Management LLC boosted its holdings in Boeing by 402.8% during the 2nd quarter. Regent Investment Management LLC now owns 5,933 shares of the aircraft producer’s stock valued at $2,160,000 after acquiring an additional 4,753 shares during the period. Steigerwald Gordon & Koch Inc. raised its position in Boeing by 193.5% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 25,687 shares of the aircraft producer’s stock valued at $9,350,000 after purchasing an additional 16,935 shares during the last quarter. OLD National Bancorp IN raised its position in Boeing by 4.6% during the 2nd quarter. OLD National Bancorp IN now owns 13,529 shares of the aircraft producer’s stock valued at $4,925,000 after purchasing an additional 594 shares during the last quarter. Boenning & Scattergood Inc. raised its position in Boeing by 6.2% during the 2nd quarter. Boenning & Scattergood Inc. now owns 5,356 shares of the aircraft producer’s stock valued at $1,950,000 after purchasing an additional 313 shares during the last quarter. Finally, Beech Hill Advisors Inc. raised its position in Boeing by 12.8% during the 2nd quarter. Beech Hill Advisors Inc. now owns 16,147 shares of the aircraft producer’s stock valued at $5,878,000 after purchasing an additional 1,830 shares during the last quarter. Institutional investors own 67.99% of the company’s stock.

BA opened at $365.33 on Tuesday. The business has a 50-day moving average price of $356.83. Boeing has a 12-month low of $292.47 and a 12-month high of $446.01. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.07 and a quick ratio of 0.29. The stock has a market cap of $205.55 billion, a PE ratio of 22.82, a P/E/G ratio of 2.46 and a beta of 1.30.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.05. The firm had revenue of $22.92 billion during the quarter, compared to analysts’ expectations of $23.04 billion. Boeing had a negative return on equity of 1,857.97% and a net margin of 10.06%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.64 EPS. Research analysts expect that Boeing will post 13.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be issued a dividend of $2.055 per share. This represents a $8.22 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, August 8th. Boeing’s dividend payout ratio is presently 51.34%.

Several equities analysts recently commented on the company. Argus reduced their target price on Kellogg from $65.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Bank of America set a $420.00 target price on Boeing and gave the stock a “hold” rating in a research report on Thursday, June 27th. UBS Group boosted their target price on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a research report on Wednesday, April 24th. Finally, Buckingham Research reduced their target price on PJT Partners from $49.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $406.25.

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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