Boeing (NYSE:BA) Price Target Raised to $230.00

Boeing (NYSE:BA) had its target price upped by JPMorgan Chase & Co. from $200.00 to $230.00 in a report published on Wednesday, MarketBeat reports. They currently have an overweight rating on the aircraft producer’s stock.

A number of other brokerages have also recently issued reports on BA. Cowen reiterated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Jefferies Financial Group lifted their price objective on Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Citigroup raised their target price on Boeing from $220.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Redburn Atlantic upgraded Boeing from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from $180.00 to $275.00 in a report on Friday, June 27th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.55.

Boeing Stock Down 0.7%

Shares of BA stock opened at $229.49 on Wednesday. The company has a market cap of $173.04 billion, a P/E ratio of -12.81 and a beta of 1.41. The business has a 50 day moving average of $210.26 and a two-hundred day moving average of $184.73. Boeing has a 52 week low of $128.88 and a 52 week high of $233.61.

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 firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted ($1.13) earnings per share. Analysts expect that Boeing will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,899 shares of Boeing 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 sale, the executive vice president directly owned 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BA. Piscataqua Savings Bank increased its holdings in shares of Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares during the period. American National Bank & Trust grew its position in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC increased its stake in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC raised its holdings in shares of Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 112 shares during the last quarter. Finally, Solstein Capital LLC acquired a new position in shares of Boeing during the fourth quarter worth approximately $33,000. Institutional investors own 64.82% of the company’s stock.

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.