Boeing (NYSE:BA) Rating Increased to Buy at Redburn Atlantic

Boeing (NYSE:BA - Get Free Report) was upgraded by equities research analysts at Redburn Atlantic from a "neutral" rating to a "buy" rating in a research note issued on Friday,Benzinga reports. The brokerage presently has a $275.00 price objective on the aircraft producer's stock, up from their previous price objective of $180.00. Redburn Atlantic's target price would indicate a potential upside of 31.73% from the stock's previous close.

BA has been the topic of a number of other research reports. 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 research report on Friday. Sanford C. Bernstein upgraded shares of Boeing from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $181.00 to $218.00 in a report on Monday, April 28th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated a "cautious" rating on shares of Boeing in a report on Thursday, June 12th. Finally, TD Securities lowered Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing has an average rating of "Moderate Buy" and an average target price of $215.77.

Boeing Trading Up 3.1%

BA stock traded up $6.19 during midday trading on Friday, hitting $208.77. The stock had a trading volume of 3,302,285 shares, compared to its average volume of 9,408,209. The firm has a market cap of $157.41 billion, a P/E ratio of -11.68 and a beta of 1.43. The business has a fifty day moving average price of $196.80 and a two-hundred day moving average price of $179.54. Boeing has a 1-year low of $128.88 and a 1-year high of $218.80.

Boeing (NYSE:BA - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the previous year, the company earned ($1.13) EPS. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that Boeing will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction dated 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 owns 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% 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 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BA. Vanguard Group Inc. grew its holdings in Boeing by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after buying an additional 1,212,327 shares in the last quarter. Geode Capital Management LLC lifted its stake in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares in the last quarter. Northern Trust Corp boosted its holdings in Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares during the period. Fisher Asset Management LLC boosted its holdings in Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock valued at $890,469,000 after purchasing an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock valued at $715,979,000 after purchasing an additional 19,615 shares in the last quarter. 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.

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