The Boeing Company (NYSE:BA - Get Free Report) shares reached a new 52-week high during trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $200.00 to $230.00. Royal Bank of Canada currently has an outperform rating on the stock. Boeing traded as high as $218.80 and last traded at $217.45, with a volume of 9398364 shares changing hands. The stock had previously closed at $210.80.
Other research analysts also recently issued research reports about the stock. TD Securities downgraded shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. 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 research note on Monday, April 28th. Melius Research set a $204.00 target price on Boeing in a research report on Monday, March 24th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Cowen reaffirmed a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $209.85.
Read Our Latest Stock Report on Boeing
Insider Buying and Selling at Boeing
In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The sale 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 dated 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 now owns 13,258 shares in the company, valued at approximately $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. Insiders sold 7,744 shares of company stock valued at $1,511,370 in the last quarter. Company insiders own 0.09% of the company's stock.
Institutional Trading of Boeing
A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Sierra Ocean LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $26,000. American National Bank & Trust increased its position in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after acquiring an additional 128 shares during the period. HighMark Wealth Management LLC raised its stake in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after acquiring an additional 90 shares during the last quarter. REAP Financial Group LLC boosted its holdings in shares of Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares during the period. Finally, Anfield Capital Management LLC grew its stake in shares of Boeing by 113.1% in the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 64.82% of the company's stock.
Boeing Trading Down 1.7%
The business has a fifty day moving average of $187.71 and a 200-day moving average of $176.42. The company has a market cap of $150.96 billion, a PE ratio of -10.93 and a beta of 1.43.
Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter last year, the company posted ($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, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.
About Boeing
(
Get Free Report)
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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