Boeing (NYSE:BA) Upgraded by Bank of America to Buy Rating

Boeing (NYSE:BA - Get Free Report) was upgraded by equities researchers at Bank of America from a "neutral" rating to a "buy" rating in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $260.00 target price on the aircraft producer's stock, up from their prior target price of $185.00. Bank of America's price objective suggests a potential upside of 23.25% from the company's current price.

A number of other equities analysts have also weighed in on BA. TD Securities lowered shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Wall Street Zen cut Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research note on Thursday, May 22nd. Susquehanna reissued a "positive" rating and set a $240.00 price target (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Finally, Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.85.

Boeing Stock Performance

Shares of BA traded down $1.02 during mid-day trading on Monday, hitting $210.96. 2,548,096 shares of the company were exchanged, compared to its average volume of 9,194,004. Boeing has a 1-year low of $128.88 and a 1-year high of $215.80. The stock has a market cap of $159.06 billion, a price-to-earnings ratio of -11.52 and a beta of 1.41. The company has a 50 day moving average of $180.96 and a 200-day moving average of $173.74.

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

Insider Buying and Selling

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred 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 sale, the executive vice president now owns 20,513 shares of the company's stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the 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 now directly owns 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 over the last 90 days. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing during the 4th quarter valued at approximately $201,000. Robeco Institutional Asset Management B.V. raised its holdings in Boeing by 37.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,927 shares of the aircraft producer's stock worth $1,226,000 after purchasing an additional 1,905 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Boeing during the fourth quarter worth $33,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in Boeing by 28.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,974 shares of the aircraft producer's stock valued at $3,712,000 after purchasing an additional 4,707 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Boeing by 374.8% in the fourth quarter. DAVENPORT & Co LLC now owns 110,593 shares of the aircraft producer's stock valued at $19,575,000 after buying an additional 87,301 shares in the last quarter. 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.