Boeing (NYSE:BA) Price Target Raised to $235.00

Boeing (NYSE:BA) had its target price hoisted by Morgan Stanley from $200.00 to $235.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the aircraft producer’s stock.

Several other equities analysts have also recently issued reports on BA. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. TD Securities lowered shares of Boeing to a “cautious” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 price objective on shares of Boeing and gave the stock a “buy” rating in a report on Thursday, June 12th. Finally, Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Four equities 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 given a strong buy rating to the stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $221.55.

Boeing Price Performance

Shares of NYSE BA opened at $229.49 on Thursday. Boeing has a 12-month low of $128.88 and a 12-month high of $233.61. The company has a market capitalization of $173.04 billion, a PE ratio of -12.81 and a beta of 1.41. The firm’s 50-day moving average is $210.26 and its two-hundred day moving average is $184.78.

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

Insider Transactions at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 42,513 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the transaction, the senior vice president directly owned 13,258 shares of the company’s stock, valued at $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 in the last quarter. 0.09% of the stock is owned by company insiders.

Institutional Trading of Boeing

Several large investors have recently modified their holdings of the stock. Marks Wealth LLC lifted its stake in Boeing by 16.4% during the 2nd quarter. Marks Wealth LLC now owns 1,421 shares of the aircraft producer’s stock valued at $298,000 after acquiring an additional 200 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Boeing in the 2nd quarter valued at about $1,150,000. EWA LLC purchased a new position in Boeing during the 2nd quarter valued at about $229,000. Pure Financial Advisors LLC grew its holdings in Boeing by 182.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 26,636 shares of the aircraft producer’s stock valued at $5,581,000 after buying an additional 17,206 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Boeing by 37.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 19,159 shares of the aircraft producer’s stock worth $4,014,000 after purchasing an additional 5,230 shares in the last quarter. Institutional investors and hedge funds 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.