Boeing (NYSE:BA) Hits New 1-Year High - Time to Buy?

The Boeing Company (NYSE:BA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $220.00 and last traded at $217.19, with a volume of 955368 shares trading hands. The stock had previously closed at $218.63.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. UBS Group increased their target price on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Morgan Stanley set a $200.00 target price on Boeing and gave the company an "equal weight" rating in a research report on Thursday, June 12th. Bank of America upgraded Boeing from a "neutral" rating to a "buy" rating and raised their price objective for the company from $185.00 to $260.00 in a report on Monday, June 2nd. Finally, Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.32.

Boeing Price Performance

The firm has a 50 day moving average of $206.14 and a two-hundred day moving average of $182.96. The stock has a market cap of $170.92 billion, a PE ratio of -12.65 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last released its 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 company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. The company's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.13) EPS. As a group, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction that occurred 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 owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 directly 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. Over the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. Company insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. American National Bank & Trust grew its holdings in Boeing by 474.1% during 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 period. Piscataqua Savings Bank grew its holdings in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after acquiring an additional 137 shares during the period. REAP Financial Group LLC grew its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after acquiring an additional 65 shares during the period. Dogwood Wealth Management LLC grew its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the period. Finally, Solstein Capital LLC acquired a new position in Boeing during the fourth quarter worth $33,000. Institutional investors and hedge funds 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.