Boeing (NYSE:BA) Upgraded at Vertical Research

Vertical Research upgraded shares of Boeing (NYSE:BA) from a hold rating to a buy rating in a research report released on Monday, MarketBeat reports. They currently have $270.00 price target on the aircraft producer’s stock, up from their previous price target of $242.00.

A number of other research firms also recently issued reports on BA. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a research note on Monday, July 14th. TD Securities lowered Boeing to a “cautious” rating in a research note on Thursday, May 22nd. UBS Group set a $280.00 target price on Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. Citigroup reissued a “buy” rating on shares of Boeing in a report on Monday, July 28th. Finally, The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $230.77.

Boeing Trading Down 0.9%

Shares of NYSE BA opened at $227.41 on Monday. Boeing has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a market capitalization of $171.96 billion, a price-to-earnings ratio of -13.77 and a beta of 1.48. The business has a 50-day moving average of $228.66 and a 200-day moving average of $198.67.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) EPS. The business’s revenue was up 34.9% on a year-over-year basis. On average, analysts predict that Boeing will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

Large investors have recently modified their holdings of the business. Wallace Advisory Group LLC raised its holdings in shares of Boeing by 1.2% during the second quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer’s stock valued at $748,000 after buying an additional 44 shares during the last quarter. Aspire Capital Advisors LLC grew its position in Boeing by 0.8% in the second quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer’s stock worth $1,245,000 after buying an additional 45 shares during the last quarter. Lantz Financial LLC grew its position in Boeing by 1.5% in the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer’s stock worth $644,000 after buying an additional 46 shares during the last quarter. Blue Barn Wealth LLC grew its position in Boeing by 1.8% in the second quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer’s stock worth $544,000 after buying an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. grew its position in Boeing by 0.7% during the 2nd quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer’s stock worth $1,362,000 after purchasing an additional 48 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.