JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Boeing (NYSE:BA) Stock

Boeing (NYSE:BA - Free Report) had its target price upped by JPMorgan Chase & Co. from $200.00 to $230.00 in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the aircraft producer's stock.

Other equities analysts have also issued research reports about the company. UBS Group raised their price objective on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Morgan Stanley set a $200.00 price objective on Boeing and gave the company an "equal weight" rating in a research report on Thursday, June 12th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and raised their price target for the company from $180.00 to $275.00 in a report on Friday, June 27th. Finally, Melius upgraded Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $221.55.

Boeing Trading Down 1.0%

Shares of NYSE:BA traded down $2.22 during trading on Wednesday, reaching $228.78. 2,433,129 shares of the company traded hands, compared to its average volume of 9,547,256. The firm has a market capitalization of $172.50 billion, a price-to-earnings ratio of -12.76 and a beta of 1.41. Boeing has a 52-week low of $128.88 and a 52-week high of $233.61. The business's fifty day moving average is $209.57 and its 200-day moving average is $184.37.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analysts' expectations of $19.57 billion. The business's revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.13) EPS. On average, sell-side analysts predict that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president directly owned 13,258 shares of the company's stock, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock valued at $1,511,370 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boeing

A number of large investors have recently made changes to their positions in the company. Aspire Capital Advisors LLC grew its stake in shares of Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after purchasing an additional 45 shares during the period. Lantz Financial LLC grew its stake in shares of Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock valued at $644,000 after acquiring an additional 46 shares during the period. Atlas Brown Inc. grew its stake in shares of Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after acquiring an additional 48 shares during the period. Moody National Bank Trust Division grew its stake in shares of Boeing by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after acquiring an additional 48 shares during the period. Finally, Monetary Management Group Inc. grew its stake in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after acquiring an additional 50 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.