Boeing (NYSE:BA - Free Report) had its target price raised by Jefferies Financial Group from $230.00 to $250.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the aircraft producer's stock.
A number of other equities analysts also recently issued reports on the company. UBS Group upped their price target on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a report on Friday, May 9th. Bank of America raised Boeing from a "neutral" rating to a "buy" rating and increased their price objective for the company from $185.00 to $260.00 in a report on Monday. Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Finally, Cowen reissued a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $207.85.
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Boeing Trading Down 1.3%
BA traded down $2.79 on Wednesday, hitting $209.19. The company had a trading volume of 4,730,251 shares, compared to its average volume of 9,215,438. The firm has a market cap of $157.73 billion, a P/E ratio of -11.42 and a beta of 1.41. Boeing has a 1 year low of $128.88 and a 1 year high of $215.80. The company's fifty day moving average price is $180.96 and its 200 day moving average price is $173.74.
Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. During the same quarter last year, the company earned ($1.13) earnings per share. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts predict that Boeing will post -2.58 earnings per share for the current year.
Insider Activity
In related news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction 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 sale, the executive vice president now owns 42,513 shares of the company's stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the 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 sale, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. 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 currently owned by corporate insiders.
Institutional Trading of Boeing
A number of hedge funds have recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC acquired a new stake in Boeing in the 4th quarter worth about $201,000. Robeco Institutional Asset Management B.V. boosted its stake in Boeing by 37.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,927 shares of the aircraft producer's stock worth $1,226,000 after buying an additional 1,905 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $202,000. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Boeing by 176.2% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 892 shares of the aircraft producer's stock valued at $158,000 after purchasing an additional 569 shares in the last quarter. Finally, Old North State Wealth Management LLC lifted its stake in shares of Boeing by 2.0% in the 4th quarter. Old North State Wealth Management LLC now owns 20,157 shares of the aircraft producer's stock valued at $3,568,000 after purchasing an additional 400 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.
About Boeing
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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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