Boeing (NYSE:BA) Hits New 1-Year High After Analyst Upgrade

Shares of The Boeing Company (NYSE:BA - Get Free Report) hit a new 52-week high during mid-day trading on Monday after StockNews.com upgraded the stock from a sell rating to a hold rating. The company traded as high as $199.95 and last traded at $196.50, with a volume of 415624 shares. The stock had previously closed at $194.85.

Several other equities research analysts have also issued reports on the company. UBS Group upped their price target on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday. Citigroup lifted their target price on Boeing from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company reissued an "underweight" rating and issued a $140.00 price objective (up previously from $111.00) on shares of Boeing in a report on Wednesday, April 23rd. Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $181.00 to $218.00 in a report on Monday, April 28th. Finally, TD Securities reiterated a "buy" rating and issued a $180.00 target price on shares of Boeing in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $201.85.

Insider Buying and Selling at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares in the company, valued at $7,950,356.13. This trade represents a 8.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Uma M. Amuluru sold 3,159 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares of the company's stock, valued at $3,471,596.97. This trade represents a 14.12% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boeing

Several large investors have recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in shares of Boeing in the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Boeing during the 4th quarter worth about $27,000. American National Bank & Trust raised its stake in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares during the period. Fiduciary Advisors Inc. purchased a new position in Boeing during the fourth quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC lifted its stake in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock worth $29,000 after acquiring an additional 90 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

The firm's 50-day moving average price is $167.01 and its two-hundred day moving average price is $166.99. The firm has a market cap of $146.24 billion, a PE ratio of -10.73 and a beta of 1.41.

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

About Boeing

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.

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