Boeing Holds On as DJIA’s Best Performer in 2017

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For the second week in a row, Boeing Co. (NYSE: BA) stock dipped week over week. Shares lost about 1.2% last week, on top of 1.65% in the prior week. In any event, the stock’s year-to-date gain remains solid — 50.87% — and Boeing holds on to its position as the best performing stock among the 30 stocks in the Dow Jones Industrial Average index.

All but eight DJIA stocks have posted year-to-date gains with the best, aside from Boeing, being Apple Inc. (NASDAQ: AAPL), up 35.97%; McDonald’s Corp. (NYSE: MCD), up 29.23%; Visa Inc. (NYSE: V), up 28.29%; and Caterpillar Inc. (NYSE: CAT), up 21.68%. All except McDonald’s dipped last week.

On Thursday, Boeing named Caroline Kennedy to its board of directors. Kennedy, who served as U.S. ambassador to Japan during President Obama’s second term, will serve on the board’s audit and finance committees.

Investors may have cooled to Boeing stock on news that Russia will begin to impose duties on Boeing’s and Airbus’s commercial planes beginning in 2019 in an effort to give a leg up to Russian-built commercial jets, the Sukoi Superjet 100 and the Irkut MC-21, neither of which is yet in production. The two Russian planes will compete with the single-aisle jets built by Boeing and Airbus, and U.S. Census Bureau data shows that Boeing aircraft and parts are the number one U.S. export to Russia this year. According to Forbes, Russia’s goal is to build 110 Sukhoi and Irkut passenger gets per year by 2025.

Boeing stock closed at $234.88 on Friday, up about 0.9% for the day, in a 52-week range of $126.31 to $246.49. The 12-month consensus price target is $253.65, and the highest target is set at $302.00.