Boeing (NYSE:BA) Trading Up 0.7% on Analyst Upgrade

The Boeing Company (NYSE:BA - Get Free Report) shares traded up 0.7% during trading on Friday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock traded as high as $195.08 and last traded at $192.98. 2,403,151 shares traded hands during trading, a decline of 73% from the average session volume of 9,040,058 shares. The stock had previously closed at $191.70.

A number of other research analysts have also issued reports on BA. Wells Fargo & Company reiterated an "underweight" rating and issued a $140.00 target price (up from $111.00) on shares of Boeing in a report on Wednesday, April 23rd. Citigroup lifted their price objective on Boeing from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, April 23rd. Sanford C. Bernstein raised shares of Boeing from a "market perform" rating to an "outperform" rating and raised their target price for the company from $181.00 to $218.00 in a report on Monday, April 28th. Finally, Cowen reiterated a "buy" rating on shares of Boeing in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $201.85.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now directly owns 19,213 shares of the company's stock, valued at $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Barn Wealth LLC boosted its stake in shares of Boeing by 64.1% during the 1st quarter. Blue Barn Wealth LLC now owns 2,548 shares of the aircraft producer's stock worth $435,000 after acquiring an additional 995 shares in the last quarter. Waycross Partners LLC increased its position in shares of Boeing by 43.4% in the first quarter. Waycross Partners LLC now owns 181,120 shares of the aircraft producer's stock valued at $30,890,000 after buying an additional 54,851 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Boeing by 38.4% during the 1st quarter. Deutsche Bank AG now owns 1,805,186 shares of the aircraft producer's stock worth $307,874,000 after buying an additional 501,161 shares during the last quarter. Monetta Financial Services Inc. grew its stake in Boeing by 3.7% in the 1st quarter. Monetta Financial Services Inc. now owns 8,400 shares of the aircraft producer's stock valued at $1,433,000 after acquiring an additional 300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 19,615 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Price Performance

The company has a market cap of $146.68 billion, a price-to-earnings ratio of -10.62 and a beta of 1.41. The business's 50-day simple moving average is $167.01 and its 200-day simple moving average is $166.91.

Boeing (NYSE:BA - Get Free Report) last posted 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 analysts' expectations of $19.57 billion. During the same period in the previous year, the company posted ($1.13) EPS. Boeing's quarterly revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

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.