Boeing (NYSE:BA) Hits New 1-Year High - Still a Buy?

Shares of The Boeing Company (NYSE:BA - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $212.28 and last traded at $207.87, with a volume of 16327635 shares traded. The stock had previously closed at $201.50.

Analyst Ratings Changes

Several research analysts recently commented on BA shares. Bank of America raised Boeing from a "neutral" rating to a "buy" rating and increased their price objective for the company from $185.00 to $260.00 in a research note on Monday. Melius Research set a $204.00 price target on Boeing in a report on Monday, March 24th. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Thursday, May 22nd. TD Securities lowered Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Three 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 data from MarketBeat.com, Boeing has a consensus rating of "Moderate Buy" and a consensus target price of $207.35.

Boeing Trading Up 2.0%

The firm has a market cap of $159.41 billion, a PE ratio of -11.54 and a beta of 1.41. The company has a 50 day moving average price of $179.49 and a 200 day moving average price of $173.19.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the prior year, the company earned ($1.13) earnings per share. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president now directly owns 20,513 shares of the company's stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares of the company's stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Revolve Wealth Partners LLC purchased a new position in shares of Boeing during the 4th quarter worth about $201,000. Robeco Institutional Asset Management B.V. increased its position in Boeing by 37.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,927 shares of the aircraft producer's stock worth $1,226,000 after purchasing an additional 1,905 shares during the last quarter. Crews Bank & Trust purchased a new position in Boeing during the fourth quarter worth approximately $55,000. Heck Capital Advisors LLC acquired a new position in shares of Boeing in the 4th quarter valued at $33,000. Finally, N.E.W. Advisory Services LLC grew its stake in shares of Boeing by 13.2% during the 4th quarter. N.E.W. Advisory Services LLC now owns 1,591 shares of the aircraft producer's stock valued at $282,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

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.