Boeing Shares Worth Going Long (NYSE:BA)

The Boeing Company (NYSE:BA) is a stock worth a second look despite being up 18% in 2010.   Boeing Co (BA) shares are trading today at $63.87, getting closer to its 52-week high of $76.

Today Boeing said it delivered 114 commercial airplanes in the second quarter, up from 108 planes in the first quarter.  There's room for growth for Boeing shares, thus its time to get on board.

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Boeing told investors today they delivered 95 next-generation 737s but did not deliver any 747 jumbo jets during the period. Commercial aircraft deliveries in the second quarter have dropped 8.8% year-over-year.  However, the company maintained its 2010 delivery outlook at between 460 to 465 aircraft. 

Boeing Company (BA) shares are now trading with a P/E Ratio of 38.2 and EPS of 1.63.  If you were to make a trade just on the charts, take a gander at Boeing, the stock has made a nice recovery since dipping three times below $60.  Keep in mind Boeing pays a 2.63% dividend yield while you wait to see if its stock can keep moving higher.  

What's not to like?  Boeing has yet to deliver a 747 this year. It had delivered six through the second quarter in 2009.  However with solid fundamentals Boing is a company worth considering should the overall U.S. and Global economy begin to improve.  Tack on that Boeing is sitting on a mountain of cash, to the tune of $10.36 billion of and $12.95 billion of debt, equaling a debt-to-equity ratio of 4.4.

These days trying to find a stock that won't dip every two seconds and kill your portfolio is key.  Boeing at this point in time may be that stock to add after re-testing the $60 level for what I believe to be a final time in 2010.

Boeing Chart Fun

Disclaimer: No positions in any of the securities mentioned in this publication.