Boeing Co.’s (NYSE: BA) share price slipped by less than 0.5% last week, not enough for the company to yield its perch as the best performing stock among the 30 stocks that make up the Dow Jones Industrial Average.Shares dropped 90 cents last week to trim the year-to-date gain only slightly to 67.6%.
Of the three other stocks closest to Boeing’s yearly gain, Apple Inc. (NASDAQ: AAPL) added nearly 1.3% to close the week up 50.8% for the year to date; Caterpillar Inc. (NYSE: CAT) dipped by about 0.1% to a gain of 47.2%; and Visa Inc. (NYSE: V) tacked on 0.5% to bring its annual gain to 43.4%.
Ironically the stock dropped most on Wednesday after a new 52-week high was posted in the morning. That was also the day that Boeing announced a $37 billion package of orders and commitments from one Chinese customer and a firm order worth $7.4 billion from another.
The company also moved two 787-8s from their listing as being ordered by an unidentified customer to being attributed to the U.S. Air Force PAR program, military-speak for the two planes that will be designated Air Force One when the President is aboard.
The Dubai Air Show officially opens Sunday, November 12, and Boeing’s vice-president of sales for the Middle East predicted that it will be a “good show” for the company, but well short of the blockbuster 2013 Dubai show that drew more than $170 billion in orders combined for Boeing and Airbus.
Boeing stock closed at $260.85 on Friday, down about 0.7% on the day, in a 52-week range of $144.46 to $267.62. The 12-month consensus price target is $280.90, nearly $6 a share lower than last week’s target. The low price target is $170 and the high is $350.
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