Boeing (NYSE:BA) Stock Price Up 0.6% on Analyst Upgrade

The Boeing Company (NYSE:BA) shares were up 0.6% 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 were traded 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.

Several other brokerages also recently commented on BA. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Citigroup lowered their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Two 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 stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Hold” and a consensus target price of $191.16.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Newport Trust Company LLC increased its holdings in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the last quarter. State Street Corp lifted its stake in Boeing by 2.3% in 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 raised its holdings in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

The company has a market capitalization of $105.03 billion, a P/E ratio of -13.17 and a beta of 1.52. The firm’s fifty day moving average is $159.43 and its 200 day moving average is $165.47.

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