Boeing (NYSE:BA) Given “Buy” Rating at Citigroup

Citigroup reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $285.00 price objective on the aircraft producer’s stock.

A number of other brokerages have also recently issued reports on BA. StockNews.com initiated coverage on Boeing in a report on Thursday, August 17th. They set a hold rating for the company. SpectralCast restated a reiterates rating on shares of Boeing in a research report on Wednesday, June 21st. JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $225.00 to $245.00 in a research report on Thursday, July 27th. Morgan Stanley boosted their price objective on shares of Boeing from $220.00 to $235.00 in a research report on Thursday, July 27th. Finally, Bank of America upgraded shares of Boeing from a neutral rating to a buy rating and upped their price target for the stock from $225.00 to $300.00 in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $245.13.

Boeing Stock Performance

Shares of BA opened at $205.11 on Monday. The firm has a market capitalization of $123.39 billion, a price-to-earnings ratio of -27.38 and a beta of 1.43. The business’s fifty day moving average price is $223.54 and its two-hundred day moving average price is $213.09. Boeing has a 52 week low of $120.99 and a 52 week high of $243.10.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.17. The company had revenue of $19.75 billion during the quarter, compared to the consensus estimate of $18.59 billion. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.37) earnings per share. As a group, research analysts forecast that Boeing will post -2.83 EPS for the current year.

Insider Activity

In related news, Director Steven M. Mollenkopf acquired 850 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $237.00 per share, with a total value of $201,450.00. Following the completion of the acquisition, the director now directly owns 3,767 shares of the company’s stock, valued at $892,779. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boeing news, Director Steven M. Mollenkopf bought 850 shares of Boeing stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $237.00 per share, with a total value of $201,450.00. Following the completion of the acquisition, the director now owns 3,767 shares in the company, valued at $892,779. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Theodore Colbert III sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total transaction of $2,026,145.00. Following the completion of the transaction, the chief executive officer now owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently made changes to their positions in the business. Grey Fox Wealth Advisors LLC bought a new stake in shares of Boeing in the 4th quarter worth about $25,000. Coston McIsaac & Partners lifted its holdings in shares of Boeing by 62.5% in the 2nd quarter. Coston McIsaac & Partners now owns 130 shares of the aircraft producer’s stock worth $27,000 after acquiring an additional 50 shares during the last quarter. IFS Advisors LLC lifted its holdings in Boeing by 523.8% during the 2nd quarter. IFS Advisors LLC now owns 131 shares of the aircraft producer’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Steward Financial Group LLC bought a new stake in Boeing during the 4th quarter valued at about $30,000. Finally, M&R Capital Management Inc. lifted its holdings in Boeing by 90.7% during the 2nd quarter. M&R Capital Management Inc. now owns 143 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. 61.33% of the stock is owned by hedge funds and other institutional investors.

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.