Boeing (NYSE:BA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Boeing (NYSE:BA) had its price target lifted by Morgan Stanley from $200.00 to $235.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aircraft producer’s stock. Morgan Stanley’s price target indicates a potential upside of 2.40% from the stock’s previous close.

A number of other research firms have also issued reports on BA. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed a “cautious” rating on shares of Boeing in a report on Thursday, June 12th. Jefferies Financial Group lifted their price objective on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Boeing from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.55.

Boeing Trading Down 0.7%

Shares of NYSE BA opened at $229.49 on Thursday. The stock has a market cap of $173.04 billion, a P/E ratio of -12.81 and a beta of 1.41. Boeing has a 12-month low of $128.88 and a 12-month high of $233.61. The business’s fifty day simple moving average is $210.26 and its 200-day simple moving average is $184.73.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the prior year, the business earned ($1.13) earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts forecast that Boeing will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the sale, the executive vice president directly owned 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, 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 worth $1,511,370 in the last ninety days. Insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

A number of institutional investors have recently added to or reduced their stakes in BA. KKM Financial LLC boosted its position 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 buying an additional 5,175 shares during the last quarter. Wynn Capital LLC bought a new position in shares of Boeing during the first quarter worth about $584,000. Grant Private Wealth Management Inc bought a new position in shares of Boeing during the fourth quarter worth about $903,000. Advanced Portfolio Management LLC lifted its position in shares of Boeing by 182.2% during the fourth quarter. Advanced Portfolio Management LLC now owns 15,000 shares of the aircraft producer’s stock worth $2,655,000 after purchasing an additional 9,684 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Boeing during the fourth quarter worth about $393,736,000. 64.82% of the stock is owned by hedge funds and other 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.