Boeing (NYSE:BA) Trading 1.5% Higher - What's Next?

Key Points

• Boeing's share price increased by 1.5%, reaching a high of $221.80 before last trading at $219.62.
• Analysts have upgraded Boeing's stock rating, including Redburn Atlantic, which increased its price target to $275.00, and the average target price now stands at $233.91.
• Boeing reported a revenue of $22.75 billion for the last quarter, exceeding estimates and showing a 34.9% year-over-year increase, despite missing EPS expectations.

The Boeing Company (NYSE:BA - Get Free Report)'s share price traded up 1.5% during mid-day trading on Monday . The company traded as high as $221.80 and last traded at $219.62. 7,647,518 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 8,273,718 shares. The stock had previously closed at $216.30.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a research note on Friday, June 27th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $233.91.

Boeing Stock Performance

The business has a 50-day moving average of $224.72 and a 200 day moving average of $205.50. The stock has a market cap of $166.07 billion, a PE ratio of -13.30 and a beta of 1.47.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business posted ($2.90) EPS. Equities analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of BA. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing during the 2nd quarter valued at $25,000. Piscataqua Savings Bank boosted its holdings in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Proathlete Wealth Management LLC purchased a new stake in Boeing during the first quarter valued at about $34,000. Monetary Management Group Inc. increased its stake in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Finally, Howard Hughes Medical Institute purchased a new position in shares of Boeing in the 2nd quarter worth about $34,000. 64.82% of the stock is owned by institutional investors and hedge funds.

About Boeing

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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