Boeing Co. (BA) last week held on to its top ranking among the 30 stocks that comprise the Dow Jones Industrial Average. Shares added about 2.3% for the week, and for the year to date, Boeing stock has added 29.99% to its share price. Dow components McDonald's Corp. (MCD) ranked second, with a year-to-date gain of 28.38%, and Apple Inc. (AAPL) ranked third, up 24.49%. Visa Inc. (NYSE: V), up 20.38% in 2017, is the only other Dow stock to post a gain of more than 20%.
Boeing reported second-quarter deliveries on Friday and the totals fell short of both the year-ago quarter's deliveries and the year-to-date deliveries.
The lower deliveries were partly due to a problem that surfaced with the engines for the company's 737 MAX. Several engines needed to be replaced and that cut 737 deliveries from 127 in the second quarter of last year to 123 this year, and first-half deliveries dipped by 12 from 248 to 236.
Boeing had warned of the issue with the 737, so even though the report was short of expectations, investors had already priced in the lower numbers.
The stock price remained strong on Boeing's showing at the recently concluded Paris Air Show, where the company took 571 new orders and commitments with a list price value of some $74.8 billion, nearly double the total value of rival Airbus, which posted new orders valued at $39.7 billion.
Boeing took 361 orders and commitments for new 737 MAX 10 (737-10), although 214 of those were conversions from previous 737 MAX orders. A total of 16 customers, nine airlines and seven lessors, signed up for the new plane at the Paris show.
Boeing stock closed at $202.37 on Friday, in a 52-week range of $126.31 to 204.39. The 12-month consensus price target is $191.98.