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

The Boeing Company (NYSE:BA)’s share price rose 0.6% during trading 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. Approximately 2,084,499 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 7,121,934 shares. The stock had previously closed at $171.87.

BA has been the topic of a number of other research reports. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. UBS Group decreased their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird decreased their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $191.16.

Institutional Trading of Boeing

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Boeing by 26.2% in the fourth quarter. GAMMA Investing LLC now owns 5,135 shares of the aircraft producer’s stock valued at $909,000 after buying an additional 1,066 shares during the period. Versant Capital Management Inc lifted its position in Boeing by 51.0% in the fourth quarter. Versant Capital Management Inc now owns 811 shares of the aircraft producer’s stock worth $143,000 after purchasing an additional 274 shares during the period. Principal Financial Group Inc. lifted its position in Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares during the period. Syntax Research Inc. lifted its holdings in shares of Boeing by 18.4% during the 3rd quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock worth $716,000 after acquiring an additional 730 shares during the period. Finally, Denver PWM LLC boosted its position in shares of Boeing by 728.9% during the 3rd quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock valued at $834,000 after acquiring an additional 4,825 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

The firm has a market cap of $105.03 billion, a P/E ratio of -13.17 and a beta of 1.56. The stock’s 50 day moving average is $159.13 and its two-hundred day moving average is $165.53.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) EPS. As a group, research analysts forecast that The Boeing Company will post -16.18 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.