Boeing (NYSE:BA) Raised to Buy at Melius

Melius upgraded shares of Boeing (NYSE:BA) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat reports.

BA has been the subject of a number of other research reports. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. StockNews.com upgraded Boeing to a “sell” rating in a research report on Wednesday, March 12th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Finally, UBS Group raised their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Trading Up 1.6 %

Shares of Boeing stock opened at $180.90 on Monday. Boeing has a 52 week low of $137.03 and a 52 week high of $196.95. The company’s 50-day moving average price is $173.19 and its two-hundred day moving average price is $163.72. The stock has a market cap of $135.69 billion, a PE ratio of -9.87 and a beta of 1.53.

Boeing (NYSE:BA) last released its earnings results 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 period last year, the company posted ($0.47) EPS. On average, equities analysts predict that Boeing will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised 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 valued at $11,406,361,000 after purchasing an additional 12,641,715 shares during the last quarter. State Street Corp raised its position in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after buying an additional 3,452,075 shares during the period. Northern Trust Corp grew its position in Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after buying an additional 1,634,231 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Boeing by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after acquiring an additional 164,042 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.