Boeing (NYSE:BA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Boeing (NYSE:BA) had its price objective lifted by Wells Fargo & Company from $103.00 to $113.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 29.66% from the stock’s current price.

Several other equities research analysts have also commented on BA. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. StockNews.com raised shares of Boeing to a “sell” rating in a research report on Wednesday, March 12th. Susquehanna lifted their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Trading Down 0.7 %

BA stock traded down $1.16 during trading on Monday, hitting $160.65. The company had a trading volume of 993,437 shares, compared to its average volume of 8,592,300. Boeing has a one year low of $137.03 and a one year high of $196.95. The business has a 50-day moving average of $173.23 and a 200-day moving average of $163.57. The stock has a market cap of $120.50 billion, a PE ratio of -8.76 and a beta of 1.53.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the company earned ($0.47) EPS. Research analysts forecast that Boeing will post -2.58 EPS for the current year.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after buying an additional 12,641,715 shares during the last quarter. State Street Corp increased its position in shares of Boeing by 2.3% during 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 acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after acquiring an additional 3,452,075 shares during the last quarter. Jennison Associates LLC lifted its position in Boeing by 9.9% in the 3rd 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 in the last quarter. Finally, Northern Trust Corp boosted its stake in Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Hedge funds and other 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.