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

Boeing (NYSE:BA) had its price objective increased by research analysts at Morgan Stanley from $185.00 to $200.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the aircraft producer’s stock. Morgan Stanley’s target price would suggest a potential downside of 2.86% from the company’s previous close.

A number of other analysts have also commented on BA. Citigroup upped their price objective on shares of Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Sanford C. Bernstein raised shares of 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 note on Monday, April 28th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. UBS Group lifted their price target on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Cowen reissued a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.35.

Boeing Price Performance

Shares of BA opened at $205.88 on Friday. The firm’s 50 day moving average is $171.81 and its 200-day moving average is $168.65. Boeing has a 12-month low of $128.88 and a 12-month high of $209.66. The stock has a market capitalization of $155.23 billion, a P/E ratio of -11.24 and a beta of 1.41.

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

Insider Buying and Selling

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now owns 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,263 shares of company stock valued at $1,950,150. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in Boeing during the fourth quarter worth about $26,000. American National Bank & Trust lifted its holdings in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in Boeing during the 4th quarter valued at $27,000. Fiduciary Advisors Inc. bought a new position in Boeing during the fourth quarter worth $28,000. Finally, HighMark Wealth Management LLC increased its holdings in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. 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.