Boeing (NYSE:BA) Sets New 1-Year High – What’s Next?

Shares of The Boeing Company (NYSE:BA) reached a new 52-week high on Tuesday . The company traded as high as $220.00 and last traded at $217.19, with a volume of 955368 shares. The stock had previously closed at $218.63.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the company a “buy” rating in a report on Thursday, June 12th. Melius Research set a $204.00 target price on shares of Boeing in a report on Monday, March 24th. Susquehanna reaffirmed a “positive” rating and issued a $240.00 target price (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. Finally, Cowen reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $215.77.

Boeing Stock Performance

The firm’s 50-day moving average is $202.86 and its 200 day moving average is $181.73. The firm has a market capitalization of $163.35 billion, a PE ratio of -12.06 and a beta of 1.41.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business 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 firm earned ($1.13) earnings per share. Boeing’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president directly owned 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% 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 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Legacy Private Trust Co. raised its stake in Boeing by 15.0% in the 2nd quarter. Legacy Private Trust Co. now owns 16,784 shares of the aircraft producer’s stock valued at $3,517,000 after purchasing an additional 2,190 shares during the last quarter. GK Wealth Management LLC raised its stake in Boeing by 52.4% in the 2nd quarter. GK Wealth Management LLC now owns 4,615 shares of the aircraft producer’s stock valued at $967,000 after purchasing an additional 1,586 shares during the last quarter. Teamwork Financial Advisors LLC raised its stake in Boeing by 20.2% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 2,109 shares of the aircraft producer’s stock valued at $442,000 after purchasing an additional 355 shares during the last quarter. Capital Asset Advisory Services LLC raised its stake in Boeing by 126.7% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 3,008 shares of the aircraft producer’s stock valued at $631,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Nova Wealth Management Inc. raised its stake in Boeing by 40.3% in the 2nd quarter. Nova Wealth Management Inc. now owns 421 shares of the aircraft producer’s stock valued at $88,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds 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.