Boeing (NYSE:BA) Upgraded at Bank of America

Bank of America upgraded shares of Boeing (NYSE:BA) from a neutral rating to a buy rating in a research report released on Monday morning, MarketBeat reports. The brokerage currently has $260.00 price objective on the aircraft producer’s stock, up from their prior price objective of $185.00.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein raised Boeing from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research report on Thursday, May 22nd. Cowen reissued a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Citigroup reissued a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Finally, Susquehanna reissued a “positive” rating and set a $240.00 target price (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.85.

Boeing Price Performance

Shares of BA opened at $212.09 on Monday. The stock has a market capitalization of $159.92 billion, a price-to-earnings ratio of -11.58 and a beta of 1.41. Boeing has a 1 year low of $128.88 and a 1 year high of $215.80. The business’s 50 day simple moving average is $180.96 and its 200-day simple moving average is $173.74.

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

Insider Transactions at Boeing

In related news, SVP Brendan J. Nelson sold 640 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in the stock. Integrity Wealth Advisors Inc. boosted its position in Boeing by 36.2% during the first quarter. Integrity Wealth Advisors Inc. now owns 8,217 shares of the aircraft producer’s stock valued at $1,401,000 after purchasing an additional 2,186 shares in the last quarter. Modern Wealth Management LLC raised its stake in Boeing by 22.8% in the first quarter. Modern Wealth Management LLC now owns 37,638 shares of the aircraft producer’s stock valued at $6,419,000 after buying an additional 7,000 shares during the last quarter. Strs Ohio purchased a new stake in Boeing in the first quarter valued at about $98,984,000. GK Wealth Management LLC raised its stake in Boeing by 3.6% in the first quarter. GK Wealth Management LLC now owns 3,010 shares of the aircraft producer’s stock valued at $513,000 after buying an additional 105 shares during the last quarter. Finally, Intrua Financial LLC raised its stake in Boeing by 15.8% in the first quarter. Intrua Financial LLC now owns 3,258 shares of the aircraft producer’s stock valued at $556,000 after buying an additional 445 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

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.