At times like these, I am grateful to be investing my own money. That’s because I decided to go all in on BOEING (SYMBOL BA, $339), and recent events make that look risky. I’m willing to accept the risk, but I’m not sure what I’d recommend to anyone else.
Boeing has been firing on all cylinders. In addition to announcing major new orders for aircraft on a nearly weekly basis, the company already has a $488 billion backlog—roughly five times this year’s expected revenue. Moreover, a “refresh” cycle for the wide-body jets that Boeing makes is expected to begin in 2020, which should keep the company’s manufacturing facilities humming for years.
Earnings per share were up a whopping 77% in 2017 and are expected to jump another 15% or 16% in 2018, and the company hiked its annual dividend by 20% in December. (For more on Boeing, see “Income Investing,” on page 56.)
I bought 35 shares at $334.44 each when the market dropped on February 6, bringing Boeing down to what I thought was a reasonable price. I bought another 10 shares at $323.16 per share three days later, when the market dropped a little more.
More bargain than I bargained for.
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