Boeing (NYSE:BA) Raised to Buy at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of Boeing (NYSE:BA) from a neutral rating to a buy rating in a research report released on Friday, Marketbeat Ratings reports. Rothschild & Co Redburn currently has $275.00 price target on the aircraft producer’s stock.

A number of other research firms also recently issued reports on BA. The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the company a “buy” rating in a research report on Thursday, June 12th. Melius Research set a $204.00 price target on shares of Boeing in a research report on Monday, March 24th. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $260.00 in a report on Monday, June 2nd. UBS Group upped their target price on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.77.

Boeing Stock Performance

Shares of NYSE BA opened at $214.56 on Friday. The stock has a market cap of $161.78 billion, a P/E ratio of -11.97 and a beta of 1.43. Boeing has a 52-week low of $128.88 and a 52-week high of $218.80. The firm has a 50 day moving average price of $197.85 and a two-hundred day moving average price of $179.88.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business posted ($1.13) EPS. Analysts predict that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the 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 owns 13,258 shares in the company, valued at $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock valued at $1,511,370 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Boeing by 1.9% during 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 buying an additional 1,212,327 shares during the period. Geode Capital Management LLC raised its stake in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after buying an additional 3,452,075 shares in the last quarter. Northern Trust Corp lifted its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after buying an additional 1,634,231 shares during the period. Fisher Asset Management LLC boosted its position in shares of Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after purchasing an additional 164,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Boeing by 0.5% during 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 buying an additional 19,615 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.