Benchmark Cuts Boeing (NYSE:BA) Price Target to $215.00

Boeing (NYSE:BA - Free Report) had its price target lowered by Benchmark from $250.00 to $215.00 in a research note published on Monday, Marketbeat reports. Benchmark currently has a buy rating on the aircraft producer's stock.

A number of other brokerages have also commented on BA. Melius raised Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. Barclays raised shares of Boeing from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Melius Research set a $204.00 target price on Boeing in a report on Monday, March 24th. Citigroup raised their target price on Boeing from $207.00 to $210.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. upped their price target on Boeing from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $198.45.

Boeing Price Performance

BA stock traded up $0.61 during mid-day trading on Monday, hitting $176.87. 5,755,918 shares of the stock were exchanged, compared to its average volume of 9,058,531. The business has a fifty day moving average price of $165.01 and a 200 day moving average price of $164.43. The stock has a market capitalization of $132.66 billion, a price-to-earnings ratio of -9.65 and a beta of 1.24. Boeing has a 12 month low of $128.88 and a 12 month high of $196.95.

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, topping the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. As a group, equities analysts forecast that Boeing will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boeing

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

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.