Boeing Shares Rose 2% Last Week, Cementing Its Place as DJIA’s Top Performer
Boeing added nearly 2% to its stock price last week and continues to rank as the best performing of the Dow Jones Industrial Average index. The stock accounts for nearly 8% of the DJIA's performance.
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Boeing Co.’s (NYSE: BA) share price rose by 1.7% last week, maintaining the stock’s stranglehold as the best performer among the 30 stocks that make up the Dow Jones Industrial Average. Shares added $4.37 last week to increase the year-to-date gain by nearly three percentage points to 66.1%.
Among the Dow stocks, 24 have posted year-to-date gains with the best — other than Boeing — being Caterpillar Inc. (NYSE: CAT), up 36.87%; Visa Inc. (NYSE: V) up 36.8%; Apple Inc. (NASDAQ: AAPL), up 34.09%; McDonald’s Corp. (NYSE: MCD), up 31.12%.
Boeing capped a solid week of gains late Friday with the news that the U.S. Department of Commerce found that Bombardier had indeed dumped its CS-100 passenger jet. The department accepted Boeing’s recommendation for a tariff of 79.82% to be charged for every CS-100 imported into the United States. Canada and Bombardier have not indicated if or to what body an appeal might go, but there are a few options, as we’ve noted before.
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Last Thursday Boeing announced that it delivered 202 new commercial aircraft in the third quarter. The company also announced its acquisition of Aurora Flight Systems, a drone maker, for an undisclosed price.
Finally on Thursday, hybrid-electric aircraft maker Zunum Aero, in which both Boeing and JetBlue have invested, announced that the company’s first product will be a 12-passenger regional jet designed to fly up to 700 miles at a top speed of 340 mph.
Boeing stock closed at $258.58 on Friday, down about 0.1% on the day, in a 52-week range of $131.39 to $259.30. The 12-month consensus price target was unchanged last week at $268.85. The low price target is $187 and the high is $325.00. Boeing has announced that it will announce third-quarter results before U.S. markets open on October 25.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
