Boeing (NYSE:BA) Stock Price Up 1.3% Following Analyst Upgrade

The Boeing Company (NYSE:BA) traded up 1.3% on Monday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock traded as high as $198.75 and last traded at $197.46. 3,884,860 shares were traded during mid-day trading, a decline of 57% from the average session volume of 9,078,135 shares. The stock had previously closed at $194.85.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group boosted their price target on Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday. Cowen reiterated a “buy” rating on shares of Boeing in a research report on Wednesday. Finally, Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $201.85.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp grew its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after purchasing an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boeing by 0.5% in 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 purchasing an additional 19,615 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 1.5%

The company has a market cap of $149.09 billion, a price-to-earnings ratio of -10.80 and a beta of 1.41. The company has a fifty day simple moving average of $167.01 and a two-hundred day simple moving average of $166.99.

Boeing (NYSE:BA) last issued 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 company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. During the same quarter in the prior year, the company earned ($1.13) earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

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.