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BOEING LIFTS ITS DIVIDEND BY 20%, STOCK TARGETING MA20 - Capital Street FX
BOEING LIFTS ITS DIVIDEND BY 20%, STOCK TARGETING MA20
In the Premarket trading session on Tuesday, Boeing’s stock was trading at 324.50- higher by 2.65% as compared to its previous close.
In recent news, the company’s board voted on Monday to raise its quarterly dividend by 20% to $2.05 per share in 2019. In addition, the board has increased the stock buyback plan to $20 billion from $18 billion decided earlier.
Boeing’s dividend increase comes as the company has raised the production of its most popular model, the 737. The company’s monthly production of 737’s has increased from 47 last year to its current rate of 52. The Production is expected to climb to 57 by the end of next year.
Boeing stocks have gained 7% since the start of the year.
On the technical front, the current price is above the MA5 (321.82). The current price is below the middle line of the Bollinger Bands but is heading upwards. The current price is below the MA20 (327.64). The stock is expected to trade higher today.
TRADE SUGGESTION-LIMIT BUY AT 322.50 TAKE PROFIT AT 327.50 STOP LOSS AT 320.00