Boeing (NYSE:BA) Reaches New 1-Year High – Should You Buy?

The Boeing Company (NYSE:BA) reached a new 52-week high during trading on Tuesday . The company traded as high as $236.63 and last traded at $236.40, with a volume of 7886003 shares. The stock had previously closed at $233.06.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BA shares. UBS Group increased their target price on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Boeing in a research report on Monday, July 14th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research report on Monday. Royal Bank Of Canada reissued a “cautious” rating on shares of Boeing in a research report on Thursday, June 12th. Finally, Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $260.00 in a research report on Monday, June 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.55.

Boeing Trading Up 1.4%

The stock has a market capitalization of $178.25 billion, a PE ratio of -13.19 and a beta of 1.41. The firm’s fifty day moving average price is $213.63 and its two-hundred day moving average price is $187.41.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 13,258 shares of the company’s stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. This trade represents a 13.51% 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 valued at $1,511,370 in the last three months. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boeing

Institutional investors have recently added to or reduced their stakes in the stock. KKM Financial LLC grew its stake in Boeing by 50.8% in the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock valued at $2,720,000 after acquiring an additional 5,175 shares during the period. Wynn Capital LLC acquired a new stake in Boeing in the 1st quarter valued at $584,000. Grant Private Wealth Management Inc acquired a new stake in Boeing in the 4th quarter valued at $903,000. Advanced Portfolio Management LLC grew its stake in Boeing by 182.2% in the 4th quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer’s stock valued at $2,655,000 after acquiring an additional 9,684 shares during the period. Finally, Zimmer Partners LP acquired a new stake in Boeing in the 4th quarter valued at $393,736,000. 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.