Technical problems slow deliveries

Article Excerpt

BOEING CO. $233 (New York symbol BA; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 603.6 million; Market cap: $140.6 billion; Price-to-sales ratio: 1.5; Dividend yield: 2.7%; TSINetwork Rating: Above Average; www.boeing.com) is a leading maker of passenger jets, military aircraft and satellites. The company delivered 183 commercial jet planes in the quarter ended June 30, 2016. That’s down 8.0% from 199 a year earlier. The decline is mainly because Boeing is phasing out its 737 plane in favour of a newer model (737 MAX). However, technical problems have forced the company to delay deliveries of the 737 MAX. As well, Boeing delivered 45 military aircraft in the quarter, unchanged from a year earlier. Higher sales of refurbished Apache and Chinook helicopters offset weaker demand for new equipment. Boeing is a hold. hold…