Citigroup Issues Positive Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its target price lifted by Citigroup from $220.00 to $270.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

Several other research analysts have also recently weighed in on the stock. Susquehanna reissued a “positive” rating on shares of Boeing in a research report on Monday. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Redburn Atlantic upgraded shares of Boeing from a “hold” rating to a “strong-buy” rating and boosted their price objective for the company from $180.00 to $275.00 in a report on Friday, June 27th. Cowen restated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada restated a “cautious” rating on shares of Boeing in a report on Thursday, June 12th. Four research analysts have rated the stock with a sell rating, three have assigned 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.59.

Boeing Trading Up 1.7%

Shares of BA stock opened at $230.66 on Monday. The company’s 50-day moving average price is $207.02 and its 200-day moving average price is $183.35. The stock has a market cap of $173.92 billion, a price-to-earnings ratio of -12.87 and a beta of 1.41. Boeing has a twelve month low of $128.88 and a twelve month high of $233.04.

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

Insider Transactions at Boeing

In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president directly owned 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steigerwald Gordon & Koch Inc. boosted its holdings in Boeing by 3.7% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 33,815 shares of the aircraft producer’s stock valued at $7,085,000 after purchasing an additional 1,213 shares in the last quarter. Hoey Investments Inc. boosted its holdings in Boeing by 49.8% in the second quarter. Hoey Investments Inc. now owns 4,963 shares of the aircraft producer’s stock valued at $1,040,000 after purchasing an additional 1,651 shares in the last quarter. CHICAGO TRUST Co NA boosted its holdings in Boeing by 10.7% in the second quarter. CHICAGO TRUST Co NA now owns 5,950 shares of the aircraft producer’s stock valued at $1,247,000 after purchasing an additional 577 shares in the last quarter. Opal Wealth Advisors LLC boosted its holdings in Boeing by 6.2% in the second quarter. Opal Wealth Advisors LLC now owns 1,455 shares of the aircraft producer’s stock valued at $305,000 after purchasing an additional 85 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA boosted its holdings in Boeing by 84.2% in the second quarter. Lederer & Associates Investment Counsel CA now owns 7,269 shares of the aircraft producer’s stock valued at $1,523,000 after purchasing an additional 3,322 shares in the last quarter. 64.82% of the stock is 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.