NEW YORK (TheStreet) -- Boeing (BA) ticked upward by 0.78% to $138.70 in midday trading on Monday after the company announced that it had a record number of orders and deliveries in 2013.
The Seattle-based aerospace company revealed it delivered 648 commercial aircraft in 2013, which marks a 7.8% improvement from 2012, and had 5,080 unfilled orders at the end of 2013, which marked a 16% increase from 2012. Boeing booked 1,531 gross commercial orders in 2013, a 14% increase from 2012.
Boeing's 737 deliveries also climbed 6% and 777 deliveries soared 18%. The company had some struggles with its 787 Dreamliner early in 2013, but the deliveries still rose 41% and unfilled orders went up 14.6%. Sixteen Boeing customers, including Japan's All Nippon Airways and United Continental (UAL), currently have Dreamliners in their fleets.
"With solid execution on our numerous production rate increases, the Boeing team performed extremely well in 2013," Boeing Commercial Airplanes President and CEO Ray Conner said in a statement.
TheStreet Ratings team rates Boeing as a "buy" with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."