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Boeing Remains DJIA’s Best Performing Stock in 2017 After Strong Sales at Paris Show
Boeing Co. (BA) last week held on to its top ranking among the 30 stocks that comprise the Dow Jones Industrial Average. The stock added nearly 3% last week and posted a new 52-week high on Friday. For the year to date, Boeing stock has added 29.9% to its share price. Dow component McDonald's Corp. (MCD) ranked second with a year-to-date gain of 27.05%, and Apple Inc. (AAPL) ranked third, up 26.30%. No other Dow stock tops 20% for the year.
Boeing spent the past week crowing about orders and commitments the company took at the biennial Paris Air Show. And Boeing did put up some very impressive numbers.
ALSO READ: The Defense Industry Also Showed Up at the Paris Air Show
Based on list prices, the value of all 571 new orders and commitments totaled $74.8 billion, nearly double the total value of rival Airbus, which posted new orders valued at $39.7 billion.
The new 737 MAX 10 (737-10) was the star of the show. Boeing accumulated 361 orders and commitments for the largest of its single-aisle planes, although 214 of those were conversions from previous 737 MAX orders. A total of 16 customers, nine airlines and seven lessors signed up for the new plane.
It is also worth noting that of Boeing's total volume, firm orders added up to just 179. The rest came as letters of intent or memoranda of understanding. Until Boeing negotiates pricing and terms for these airplanes the numbers will not be added to the company's order book, nor will Boeing receive any cash down payments.
ALSO READ: The Top 20 S&P 500 Companies Buying Back Stock in 2017
Boeing stock closed at $202.23 on Friday, after posting a new 52-week high of $202.35 in the afternoon. The stock's 52-week low is $122.35 and the 12-month consensus price target is $192.80.
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