Boeing (NYSE:BA) Given Buy Rating at The Goldman Sachs Group

The Goldman Sachs Group reissued their buy rating on shares of Boeing (NYSE:BA) in a report published on Thursday,Benzinga reports. The firm currently has a $212.00 target price on the aircraft producer’s stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada increased their price target on Boeing from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $200.00 target price on shares of Boeing in a research note on Thursday. Bank of America upgraded shares of Boeing from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Wells Fargo & Company reissued an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Finally, UBS Group lifted their price objective on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.85.

Boeing Stock Performance

NYSE BA opened at $203.75 on Thursday. The firm’s fifty day moving average is $187.71 and its two-hundred day moving average is $176.42. Boeing has a one year low of $128.88 and a one year high of $218.80. The firm has a market cap of $153.63 billion, a PE ratio of -11.12 and a beta of 1.43.

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

Insiders Place Their Bets

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the transaction, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock worth $1,511,370. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after acquiring an additional 3,452,075 shares during the period. Northern Trust Corp lifted its holdings in shares of Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after acquiring an additional 1,634,231 shares during the period. Fisher Asset Management LLC boosted its position in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after acquiring an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after purchasing an additional 19,615 shares during the period. 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.