Boeing (NYSE:BA) Shares Up 0.6% Following Analyst Upgrade

Shares of The Boeing Company (NYSE:BA) shot up 0.6% on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $184.00 to $215.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as high as $173.98 and last traded at $172.90. 2,084,499 shares were traded during mid-day trading, a decline of 71% from the average session volume of 7,121,934 shares. The stock had previously closed at $171.87.

Several other equities research analysts have also commented on the stock. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $191.16.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Boeing by 26.2% during the 4th quarter. GAMMA Investing LLC now owns 5,135 shares of the aircraft producer’s stock worth $909,000 after purchasing an additional 1,066 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Boeing by 51.0% during the fourth quarter. Versant Capital Management Inc now owns 811 shares of the aircraft producer’s stock worth $143,000 after buying an additional 274 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares in the last quarter. Syntax Research Inc. increased its holdings in shares of Boeing by 18.4% in the third quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock valued at $716,000 after purchasing an additional 730 shares in the last quarter. Finally, Denver PWM LLC increased its position in Boeing by 728.9% in the third quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after purchasing an additional 4,825 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.1 %

The firm’s 50 day moving average price is $159.43 and its 200-day moving average price is $165.47. The company has a market cap of $105.03 billion, a P/E ratio of -13.17 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned ($3.26) EPS. Analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

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.