Boeing (NYSE:BA) Shares Up 1.3% on Analyst Upgrade

The Boeing Company (NYSE:BA)’s stock price rose 1.3% on Monday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock traded as high as $198.75 and last traded at $197.46. Approximately 3,884,860 shares changed hands during trading, a decline of 57% from the average daily volume of 9,078,135 shares. The stock had previously closed at $194.85.

A number of other research analysts have also recently commented on the company. Cowen restated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. UBS Group boosted their price target on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, May 9th. TD Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Boeing in a research note on Thursday, April 24th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $140.00 price target (up previously from $111.00) on shares of Boeing in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $201.85.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wood Tarver Financial Group LLC raised its position in shares of Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock valued at $75,000 after buying an additional 55 shares during the last quarter. Keynote Financial Services LLC grew its holdings in shares of Boeing by 3.8% in the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock valued at $273,000 after purchasing an additional 57 shares in the last quarter. Signature Wealth Management Partners LLC increased its position in Boeing by 2.0% during the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer’s stock valued at $493,000 after acquiring an additional 57 shares during the last quarter. Chaney Capital Management Inc. increased its position in Boeing by 2.1% during the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock valued at $508,000 after acquiring an additional 58 shares during the last quarter. Finally, Byrne Financial Freedom LLC increased its position in Boeing by 3.0% during the first quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer’s stock valued at $340,000 after acquiring an additional 58 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

The firm has a market cap of $153.33 billion, a P/E ratio of -11.10 and a beta of 1.41. The stock’s 50-day simple moving average is $168.61 and its two-hundred day simple moving average is $167.55.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter last year, the firm earned ($1.13) EPS. The company’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

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.