Boeing (NYSE:BA) Upgraded to “Buy” at Melius

Boeing (NYSE:BA) was upgraded by investment analysts at Melius from a “hold” rating to a “buy” rating in a note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other equities research analysts also recently commented on BA. Citigroup increased their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, UBS Group raised their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

Boeing Price Performance

BA opened at $178.32 on Monday. The stock’s 50 day moving average price is $172.98 and its 200 day moving average price is $163.59. The stock has a market cap of $133.75 billion, a P/E ratio of -9.73 and a beta of 1.53. Boeing has a 12 month low of $137.03 and a 12 month high of $196.95.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the company posted ($0.47) EPS. Equities analysts anticipate that Boeing will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were 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 owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prostatis Group LLC grew its holdings in shares of Boeing by 23.3% during the 4th quarter. Prostatis Group LLC now owns 8,096 shares of the aircraft producer’s stock worth $1,433,000 after purchasing an additional 1,531 shares in the last quarter. Chancellor Financial Group WB LP bought a new position in Boeing in the fourth quarter worth $313,000. Objective Capital Management LLC acquired a new stake in Boeing during the fourth quarter worth $219,000. 111 Capital bought a new stake in Boeing in the 4th quarter valued at $681,000. Finally, Thoma Capital Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $508,000. 64.82% of the stock is currently owned by institutional investors.

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.