Citigroup Forecasts Strong Price Appreciation for Boeing (NYSE:BA) Stock

Boeing (NYSE:BA - Get Free Report) had its target price lifted by investment analysts at Citigroup from $220.00 to $270.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the aircraft producer's stock. Citigroup's price objective indicates a potential upside of 17.62% from the stock's previous close.

Several other analysts have also recently weighed in on the company. Cowen reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. UBS Group lifted their price target on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Finally, The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a "buy" rating in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $218.59.

Boeing Stock Up 1.2%

BA stock traded up $2.72 during mid-day trading on Monday, reaching $229.56. 5,787,323 shares of the company traded hands, compared to its average volume of 9,540,196. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $232.59. The stock has a market cap of $173.09 billion, a price-to-earnings ratio of -12.80 and a beta of 1.41. The firm's 50 day moving average price is $206.14 and its 200 day moving average price is $183.00.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the prior year, the business posted ($1.13) EPS. Boeing's quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts anticipate that Boeing will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president owned 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president directly owned 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last quarter. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Boeing

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares during the period. Geode Capital Management LLC grew its holdings in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Northern Trust Corp raised its holdings in Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after buying an additional 1,634,231 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Boeing by 0.5% during the first 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 during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $568,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

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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