Boeing (NYSE:BA) Trading Up 1.9% Following Analyst Upgrade

The Boeing Company (NYSE:BA) shares shot up 1.9% during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $190.00 to $200.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Boeing traded as high as $177.76 and last traded at $177.01. 1,948,299 shares traded hands during trading, a decline of 77% from the average session volume of 8,617,185 shares. The stock had previously closed at $173.66.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Sanford C. Bernstein lowered 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 report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday. Finally, UBS Group upped their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Hedge Funds Weigh In On Boeing

Large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc increased its holdings in Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after buying an additional 710 shares during the last quarter. Carnegie Investment Counsel grew its holdings in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after buying an additional 2,943 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 1.8 %

The stock has a market cap of $108.96 billion, a PE ratio of -9.62 and a beta of 1.52. The stock has a fifty day moving average of $168.96 and a 200-day moving average of $164.37.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) EPS. Equities research analysts forecast that The Boeing Company will post -1.61 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.