Boeing (NYSE:BA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Boeing (NYSE:BA) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $240.00 to $245.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the aircraft producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 13.99% from the company’s previous close.

Several other research firms have also commented on BA. New Street Research set a $257.00 target price on Boeing in a report on Tuesday, December 9th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a report on Tuesday, September 30th. Citigroup initiated coverage on shares of Boeing in a research note on Thursday, December 11th. They issued a “buy” rating and a $265.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.17.

Boeing Stock Performance

BA stock traded up $6.67 during midday trading on Friday, reaching $214.94. The stock had a trading volume of 3,595,154 shares, compared to its average volume of 8,328,704. The firm has a fifty day simple moving average of $201.69 and a two-hundred day simple moving average of $214.09. Boeing has a 52-week low of $128.88 and a 52-week high of $242.69. The stock has a market cap of $163.37 billion, a PE ratio of -15.66 and a beta of 1.18.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($10.44) earnings per share. On average, sell-side analysts predict that Boeing will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In other news, SVP Dana S. Deasy purchased 554 shares of the stock in a transaction dated Monday, November 24th. The shares were purchased at an average cost of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. The trade was a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently bought and sold shares of BA. AIA Group Ltd raised its position in shares of Boeing by 31.4% during the 3rd quarter. AIA Group Ltd now owns 28,333 shares of the aircraft producer’s stock valued at $6,115,000 after buying an additional 6,768 shares during the period. Harbour Investment Management LLC purchased a new position in shares of Boeing during the 3rd quarter worth $223,000. FNY Investment Advisers LLC increased its position in shares of Boeing by 112.8% during the 3rd quarter. FNY Investment Advisers LLC now owns 11,557 shares of the aircraft producer’s stock worth $2,494,000 after purchasing an additional 6,127 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Boeing by 6.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,646 shares of the aircraft producer’s stock valued at $355,000 after buying an additional 98 shares during the period. Finally, Allworth Financial LP boosted its stake in Boeing by 7.9% during the third quarter. Allworth Financial LP now owns 42,075 shares of the aircraft producer’s stock worth $9,081,000 after buying an additional 3,073 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.