Boeing (NYSE:BA) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Boeing (NYSE:BA) from a hold rating to a buy rating in a report published on Monday, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has $270.00 price target on the aircraft producer’s stock, up from their previous price target of $204.00.

A number of other research firms have also weighed in on BA. Morgan Stanley lowered their price objective on shares of Boeing from $235.00 to $220.00 and set an equal weight rating on the stock in a research report on Thursday, October 26th. StockNews.com assumed coverage on Boeing in a research report on Thursday, October 5th. They issued a hold rating for the company. UBS Group assumed coverage on shares of Boeing in a research note on Tuesday, October 10th. They issued a buy rating and a $275.00 price objective for the company. TD Cowen increased their target price on shares of Boeing from $255.00 to $260.00 and gave the company an outperform rating in a report on Monday, August 28th. Finally, Jefferies Financial Group boosted their price target on Boeing from $250.00 to $275.00 and gave the stock a buy rating in a research note on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of Moderate Buy and a consensus price target of $249.38.

Boeing Stock Performance

Shares of Boeing stock opened at $217.74 on Monday. The business has a 50-day simple moving average of $193.87 and a 200-day simple moving average of $208.68. The company has a market cap of $131.73 billion, a PE ratio of -46.33 and a beta of 1.48. Boeing has a one year low of $171.00 and a one year high of $243.10.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported ($3.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.21) by ($0.05). The firm had revenue of $18.10 billion for the quarter, compared to analyst estimates of $18.01 billion. During the same period in the prior year, the business posted ($6.18) earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts predict that Boeing will post -5.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several large investors have recently made changes to their positions in BA. Moneta Group Investment Advisors LLC lifted its stake in shares of Boeing by 109,667.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after acquiring an additional 16,041,103 shares during the period. BlackRock Inc. lifted its stake in Boeing by 8.1% during the first quarter. BlackRock Inc. now owns 35,950,526 shares of the aircraft producer’s stock valued at $7,636,970,000 after purchasing an additional 2,682,272 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Boeing by 1,071.3% during the first quarter. Renaissance Technologies LLC now owns 2,592,100 shares of the aircraft producer’s stock valued at $550,640,000 after purchasing an additional 2,370,800 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Boeing by 175,431.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,141,481 shares of the aircraft producer’s stock valued at $452,195,000 after acquiring an additional 2,140,261 shares during the period. Finally, Barclays PLC grew its holdings in shares of Boeing by 599.0% during the second quarter. Barclays PLC now owns 1,522,410 shares of the aircraft producer’s stock valued at $321,475,000 after buying an additional 1,827,485 shares in the last quarter. Institutional investors and hedge funds own 61.33% 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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.