Boeing (NYSE:BA) Raised to Buy at Melius

Boeing (NYSE:BA) was upgraded by research analysts at Melius from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat.com reports.

Several other brokerages have also recently issued reports on BA. Wells Fargo & Company upped their target price on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday, March 17th. StockNews.com upgraded shares of Boeing to a “sell” rating in a research report on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Finally, Citigroup boosted their price objective on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Stock Performance

BA stock opened at $182.71 on Monday. The company’s 50 day moving average price is $173.50 and its 200 day moving average price is $163.90. The firm has a market capitalization of $137.05 billion, a price-to-earnings ratio of -9.97 and a beta of 1.53. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $196.95.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the firm earned ($0.47) EPS. Equities analysts forecast that Boeing will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing 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 completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Boeing during the 4th quarter worth $568,000. Alyeska Investment Group L.P. acquired a new stake in Boeing in the fourth quarter worth $526,889,000. Finally, Zimmer Partners LP acquired a new position in shares of Boeing during the fourth quarter valued at $393,736,000. 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.