Boeing (NYSE:BA) Reaches New 1-Year High - Here's What Happened

The Boeing Company (NYSE:BA - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $233.04 and last traded at $228.84, with a volume of 2175097 shares traded. The stock had previously closed at $226.84.

Analysts Set New Price Targets

BA has been the topic of a number of recent research reports. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Jefferies Financial Group raised their target price on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. TD Securities cut shares of Boeing to a "cautious" rating in a research note on Thursday, May 22nd. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, Bank of America raised shares of Boeing from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $185.00 to $260.00 in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $218.59.

Boeing Trading Up 0.8%

The company has a 50 day simple moving average of $207.02 and a 200 day simple moving average of $183.35. The stock has a market capitalization of $175.24 billion, a PE ratio of -12.91 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. During the same period last year, the firm posted ($1.13) EPS. Boeing's revenue was up 17.7% on a year-over-year basis. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Boeing 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 value of $729,151.99. Following the completion of the sale, the executive vice president owned 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction 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 directly owned 20,513 shares of the company's stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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 Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Lantz Financial LLC grew its holdings in Boeing by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock worth $644,000 after acquiring an additional 46 shares in the last quarter. Atlas Brown Inc. boosted its holdings in shares of Boeing by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock valued at $1,362,000 after buying an additional 48 shares during the period. Moody National Bank Trust Division boosted its holdings in shares of Boeing by 2.7% in the 2nd quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock valued at $385,000 after buying an additional 48 shares during the period. Monetary Management Group Inc. boosted its holdings in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after buying an additional 50 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in shares of Boeing by 0.9% in the 1st quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer's stock valued at $923,000 after buying an additional 50 shares during the period. 64.82% of the stock is 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.