Boeing (NYSE:BA) Stock Price Up 1.3% Following Analyst Upgrade

Shares of The Boeing Company (NYSE:BA) shot up 1.3% during trading on Monday after StockNews.com upgraded the stock from a sell rating to a hold rating. The company traded as high as $198.75 and last traded at $197.46. 3,884,860 shares were traded during trading, a decline of 57% from the average session volume of 9,078,135 shares. The stock had previously closed at $194.85.

A number of other analysts have also weighed in on the stock. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Benchmark decreased their price target on Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Melius Research set a $204.00 price target on Boeing in a report on Monday, March 24th. Citigroup raised their price target on Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, TD Securities reiterated a “buy” rating and issued a $180.00 price target on shares of Boeing in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.85.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This represents a 14.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BA. Sierra Ocean LLC purchased a new position in Boeing during the fourth quarter valued at $26,000. American National Bank & Trust lifted its position in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 128 shares during the period. Sugar Maple Asset Management LLC bought a new position in shares of Boeing during the fourth quarter valued at $27,000. Fiduciary Advisors Inc. bought a new position in shares of Boeing during the fourth quarter valued at $28,000. Finally, HighMark Wealth Management LLC increased its holdings in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.5%

The firm has a fifty day moving average of $167.01 and a 200 day moving average of $166.99. The company has a market capitalization of $149.09 billion, a P/E ratio of -10.80 and a beta of 1.41.

Boeing (NYSE:BA) last announced its 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 during the quarter, compared to analysts’ expectations of $19.57 billion. During the same period in the previous year, the business posted ($1.13) earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.