Boeing’s (BA) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of Boeing (NYSE:BA) in a research note published on Wednesday,Weiss Ratings reports.

A number of other analysts also recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Susquehanna reiterated a “positive” rating and issued a $270.00 target price on shares of Boeing in a research report on Monday, September 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Rothschild & Co Redburn upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price on the stock in a research report on Friday, June 27th. Finally, The Goldman Sachs Group set a $212.00 target price on shares of Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.91.

Boeing Stock Performance

NYSE BA opened at $211.04 on Wednesday. Boeing has a 52-week low of $128.88 and a 52-week high of $242.69. The company has a market capitalization of $159.58 billion, a P/E ratio of -12.78 and a beta of 1.47. The company has a fifty day moving average of $224.29 and a 200-day moving average of $206.19.

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc lifted its position in Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after purchasing an additional 1,195 shares during the period. National Pension Service increased its holdings in Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after buying an additional 218,049 shares during the last quarter. MFG Wealth Management Inc. purchased a new stake in Boeing during the first quarter valued at approximately $2,125,000. Kelman Lazarov Inc. purchased a new stake in Boeing during the first quarter valued at approximately $262,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing during the second quarter valued at approximately $62,859,000. Institutional investors own 64.82% of the company’s stock.

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.