Shares of The Boeing Company (NYSE:BA - Get Free Report) reached a new 52-week high on Tuesday after Bank of America raised their price target on the stock from $260.00 to $270.00. Bank of America currently has a buy rating on the stock. Boeing traded as high as $236.63 and last traded at $236.40, with a volume of 7886003 shares trading hands. The stock had previously closed at $233.06.
Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research report on Monday, July 14th. Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. UBS Group set a $280.00 target price on shares of Boeing and gave the company a "buy" rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.18.
Check Out Our Latest Analysis on BA
Insider Transactions at Boeing
In other news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction dated 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 owned 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company'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 transaction, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Boeing
A number of large investors have recently made changes to their positions in the business. Wallace Advisory Group LLC increased its holdings in shares of Boeing by 1.2% in the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer's stock valued at $748,000 after purchasing an additional 44 shares during the period. Aspire Capital Advisors LLC increased its holdings in Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock worth $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC increased its holdings in Boeing by 1.5% in the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock worth $644,000 after buying an additional 46 shares during the last quarter. Atlas Brown Inc. increased its holdings in Boeing by 0.7% in the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock worth $1,362,000 after buying an additional 48 shares during the last quarter. Finally, Moody National Bank Trust Division increased its holdings in Boeing by 2.7% in the second quarter. Moody National Bank Trust Division now owns 1,836 shares of the aircraft producer's stock worth $385,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.
Boeing Price Performance
The business has a fifty day moving average of $214.84 and a 200 day moving average of $188.30. The stock has a market cap of $167.66 billion, a price-to-earnings ratio of -13.45 and a beta of 1.41.
Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the prior year, the company earned ($2.90) EPS. The business's revenue was up 34.9% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -2.58 EPS for the current year.
Boeing Company Profile
(
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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