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Boeing Delivers 22 Planes in August — Report

According to a report published by Reuters, Boeing (BA) delivered 22 planes in the month of August. Of these, two were P-8 maritime patrol aircraft, 14 were 737 MAX passenger jets and six were widebodies, which included three KC-46 tankers for the U.S. Air Force.

Headquartered in Illinois, Boeing designs, produces and sells rockets, airplanes, missiles, satellites, rotorcraft and telecommunications equipment. The company also offers product support and leasing services. Shares of the company closed 1.4% lower at $211.57 on Tuesday.

Boeing received orders for 53 planes in August, including 18 widebody aircraft and 35 MAX. The widebody aircraft include 11 777 freighters. Total orders, after cancellations and conversions, stood at 23 for the month.

Furthermore, the company has delivered 206 planes year-to-date, including 169 737 MAX jets. Orders between January and August totaled 683 or 280 after cancellations. (See Boeing stock chart on TipRanks)

Last week, Robert W. Baird analyst Peter Arment maintained a Buy rating on the stock with a price target of $306 (44.6% upside potential). The analyst is concerned about 787 headline risks in the short term. He said, “The stock could see favorable momentum during Q4 with potential China 737-MAX approval and 787 deliveries resuming.”

Overall, the stock has a Moderate Buy consensus rating based on 8 Buys and 6 Holds. The average Boeing price target of $278.1 implies 31.4% upside potential. The company’s shares have gained 29.4% over the past year.

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