Boeing (NYSE:BA) Price Target Raised to $220.00

Boeing (NYSE:BA - Free Report) had its price objective hoisted by Citigroup from $210.00 to $220.00 in a research note issued to investors on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the aircraft producer's stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. raised 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. TD Securities reaffirmed a "buy" rating and set a $180.00 price target on shares of Boeing in a research report on Thursday. StockNews.com raised shares of Boeing to a "sell" rating in a report on Saturday, April 5th. Barclays raised shares of Boeing from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.90.

Boeing Price Performance

Shares of Boeing stock traded up $4.28 during trading on Thursday, hitting $182.23. 9,287,109 shares of the company's stock traded hands, compared to its average volume of 9,060,309. Boeing has a 1 year low of $128.88 and a 1 year high of $196.95. The business has a 50-day simple moving average of $164.87 and a 200-day simple moving average of $164.82. The stock has a market capitalization of $137.40 billion, a P/E ratio of -9.95 and a beta of 1.24.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the prior year, the firm earned ($1.13) earnings per share. The business's revenue was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Boeing during the 3rd quarter valued at approximately $7,544,000. World Investment Advisors LLC raised its stake in shares of Boeing by 243.4% in the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer's stock valued at $818,000 after acquiring an additional 3,814 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of Boeing by 290.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer's stock worth $2,593,000 after acquiring an additional 12,680 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Boeing by 2.1% during the 3rd quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer's stock worth $5,812,000 after purchasing an additional 804 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer's stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other 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.