Boeing (NYSE:BA) Upgraded at Zacks Research

Boeing (NYSE:BA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

BA has been the topic of a number of other reports. UBS Group reaffirmed a “buy” rating on shares of Boeing in a research note on Thursday, October 30th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Loop Capital set a $223.00 target price on Boeing in a research note on Monday, November 3rd. JPMorgan Chase & Co. dropped their price target on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective for the company. in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $232.09.

Boeing Stock Performance

Shares of BA opened at $202.41 on Tuesday. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The business has a 50-day moving average of $204.87 and a 200 day moving average of $214.20. The firm has a market cap of $153.85 billion, a P/E ratio of -14.80 and a beta of 1.18.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter in the prior year, the company posted ($10.44) EPS. Boeing’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, research analysts predict that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dana S. Deasy purchased 554 shares of Boeing stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the purchase, the senior vice president owned 28,442 shares of the company’s stock, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Boeing by 1.1% during the third quarter. Vanguard Group Inc. now owns 67,529,417 shares of the aircraft producer’s stock valued at $14,574,874,000 after purchasing an additional 756,057 shares during the period. Newport Trust Company LLC increased its stake in shares of Boeing by 2.5% in the third quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock worth $6,301,901,000 after purchasing an additional 707,490 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Boeing by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock valued at $3,402,073,000 after buying an additional 432,026 shares in the last quarter. Fisher Asset Management LLC increased its stake in Boeing by 3.3% in the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock worth $1,188,153,000 after buying an additional 177,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Boeing by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock worth $888,910,000 after purchasing an additional 44,338 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.