Boeing (NYSE:BA) Price Target Raised to $230.00 at Royal Bank of Canada

Boeing (NYSE:BA) had its target price raised by Royal Bank of Canada from $200.00 to $230.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the aircraft producer’s stock.

BA has been the topic of a number of other research reports. Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $260.00 in a research report on Monday, June 2nd. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $181.00 to $218.00 in a report on Monday, April 28th. TD Securities lowered Boeing to a “cautious” rating in a report on Thursday, May 22nd. Finally, Benchmark reduced their price objective on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.35.

Boeing Stock Up 3.2%

BA opened at $217.45 on Monday. The stock has a market cap of $163.96 billion, a P/E ratio of -11.87 and a beta of 1.43. Boeing has a 12 month low of $128.88 and a 12 month high of $218.80. The company has a fifty day simple moving average of $183.57 and a 200 day simple moving average of $175.53.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) 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. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.13) earnings per share. On average, equities research analysts expect that Boeing will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock valued at $1,511,370 over the last 90 days. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently made changes to their positions in BA. Monetary Management Group Inc. increased its position in shares of Boeing by 33.3% in the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares during the period. Anchor Investment Management LLC increased its stake in Boeing by 0.9% in the first quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer’s stock valued at $923,000 after acquiring an additional 50 shares during the last quarter. Heritage Financial Services LLC raised its position in Boeing by 4.2% during the first quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer’s stock valued at $216,000 after purchasing an additional 51 shares in the last quarter. Wood Tarver Financial Group LLC lifted its stake in Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock worth $75,000 after purchasing an additional 55 shares during the last quarter. Finally, Keynote Financial Services LLC boosted its holdings in shares of Boeing by 3.8% in the 4th 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. 64.82% of the stock is currently owned by institutional investors.

About Boeing

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.