Boeing (NYSE:BA) Stock Rating Upgraded by Melius

Boeing (NYSE:BA) was upgraded by analysts at Melius from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat reports.

BA has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group upped their target price on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Monday, March 17th. Finally, Susquehanna increased their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Stock Performance

Shares of Boeing stock opened at $182.71 on Monday. The stock has a market cap of $137.05 billion, a price-to-earnings ratio of -9.97 and a beta of 1.53. The stock has a 50 day moving average price of $173.50 and a 200-day moving average price of $163.90. Boeing has a one year low of $137.03 and a one year high of $196.95.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) EPS. Sell-side analysts predict that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in BA. Vanguard Group Inc. lifted its stake in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC increased its stake in Boeing by 29.5% during 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 purchasing an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $568,000. Alyeska Investment Group L.P. acquired a new position in shares of Boeing in the fourth quarter valued at approximately $526,889,000. Finally, Zimmer Partners LP purchased a new stake in Boeing during the 4th quarter worth approximately $393,736,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.