Boeing (NYSE:BA) Sets New 12-Month High - What's Next?

The Boeing Company (NYSE:BA - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $235.27 and last traded at $233.14, with a volume of 4391559 shares trading hands. The stock had previously closed at $228.48.

Analyst Upgrades and Downgrades

BA has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $200.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a report on Friday, June 27th. TD Securities downgraded shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Bank of America upgraded shares of Boeing from a "neutral" rating to a "buy" rating and raised their price target 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 issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and an average price target of $221.55.

Boeing Stock Up 0.8%

The firm has a fifty day moving average price of $213.01 and a two-hundred day moving average price of $186.96. The stock has a market capitalization of $175.70 billion, a P/E ratio of -13.00 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) 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. During the same period in the previous year, the business posted ($1.13) earnings per share. The company's revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president owned 20,513 shares of the company's stock, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $132,019.20. Following the transaction, the senior vice president directly owned 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American National Bank & Trust increased its holdings in shares of Boeing by 474.1% in the 1st 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 last quarter. Piscataqua Savings Bank increased its holdings in shares of Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. REAP Financial Group LLC increased its holdings in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in shares of Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Finally, Solstein Capital LLC purchased a new position in shares of Boeing in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

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.