The Goldman Sachs Group Trims Boeing (NYSE:BA) Target Price to $257.00

Boeing (NYSE:BA) had its price objective cut by The Goldman Sachs Group from $268.00 to $257.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

A number of other analysts have also weighed in on BA. Susquehanna dropped their target price on shares of Boeing from $265.00 to $230.00 and set a positive rating for the company in a report on Thursday, March 21st. Bank of America decreased their price target on shares of Boeing from $225.00 to $210.00 and set a neutral rating for the company in a research note on Thursday, March 21st. Northcoast Research downgraded shares of Boeing from a buy rating to a neutral rating in a research note on Friday, February 23rd. UBS Group decreased their price target on shares of Boeing from $275.00 to $250.00 and set a buy rating for the company in a research note on Thursday, March 21st. Finally, William Blair began coverage on shares of Boeing in a research note on Tuesday, December 12th. They set an outperform rating for the company. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Boeing currently has an average rating of Moderate Buy and a consensus price target of $242.65.

Boeing Stock Performance

Boeing stock opened at $191.96 on Monday. The stock has a market cap of $117.12 billion, a P/E ratio of -51.89, a PEG ratio of 30.94 and a beta of 1.52. Boeing has a fifty-two week low of $176.25 and a fifty-two week high of $267.54. The firm’s fifty day moving average price is $200.81 and its 200-day moving average price is $209.96.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the company earned ($1.75) EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Boeing will post 1.55 earnings per share for the current year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently bought and sold shares of BA. Rothschild Investment LLC IL boosted its stake in shares of Boeing by 21.1% during the 3rd quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock worth $14,395,000 after purchasing an additional 13,079 shares during the period. Meridian Wealth Management LLC boosted its stake in shares of Boeing by 86.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock worth $4,749,000 after purchasing an additional 11,510 shares during the period. Morse Asset Management Inc boosted its stake in shares of Boeing by 65.0% during the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after purchasing an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. boosted its stake in shares of Boeing by 1,335.3% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after purchasing an additional 33,904 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Boeing by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after purchasing an additional 19,847 shares during the period. 64.82% of the stock is currently owned by 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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.