Boeing takes steps to increase profit

Article Excerpt

BOEING CO. $150 (New York symbol BA; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 617.2 million; Market cap: $92.6 billion; Price-to-sales ratio: 1.0; Dividend yield: 2.9%; TSINetwork Rating: Above Average; www.boeing.com) aims to improve the profitability of its defense and space businesses by shutting two plants in Texas and Virginia. It’s also making better use of its remaining facilities by shifting key operations to other plants. The defense and space businesses account for about 30% of Boeing’s overall revenue; commercial jet planes supply the remaining 70%. The company has not yet said how much it expects to pay in severance and other costs, but expects to complete these moves over the next four years. Boeing is a hold. hold…