Boeing’s (BA) “Buy” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group restated their buy rating on shares of Boeing (NYSE:BA) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $212.00 price objective on the aircraft producer’s stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. TD Securities lowered Boeing to a “cautious” rating in a report on Thursday, May 22nd. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $181.00 to $218.00 in a research note on Monday, April 28th. Morgan Stanley reissued an “equal weight” rating and set a $200.00 price objective on shares of Boeing in a report on Thursday. Finally, Benchmark reduced their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.85.

Boeing Stock Down 1.7%

NYSE BA opened at $200.21 on Thursday. The firm has a 50-day moving average price of $188.93 and a two-hundred day moving average price of $176.94. The company has a market capitalization of $150.96 billion, a P/E ratio of -10.93 and a beta of 1.43. Boeing has a 12-month low of $128.88 and a 12-month high of $218.80.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. Boeing’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm posted ($1.13) EPS. Equities analysts expect that Boeing will post -2.58 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 over the last three months. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in the business. Amundi increased its stake in Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock worth $268,862,000 after acquiring an additional 1,292,417 shares during the last quarter. KKM Financial LLC grew its position in shares of Boeing by 50.8% during the 4th quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock worth $2,720,000 after buying an additional 5,175 shares in the last quarter. Wynn Capital LLC purchased a new position in Boeing during the 1st quarter valued at about $584,000. Grant Private Wealth Management Inc purchased a new stake in shares of Boeing during the 4th quarter worth $903,000. Finally, Winslow Asset Management Inc. grew its position in shares of Boeing by 8.2% in the 4th quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer’s stock worth $7,215,000 after buying an additional 3,096 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

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.