Boeing (NYSE:BA) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $250.00 price objective on the aircraft producer’s stock.

A number of other research analysts have also recently commented on the company. Barclays increased their price target on Boeing from $210.00 to $235.00 and gave the company an equal weight rating in a research note on Wednesday, December 6th. William Blair began coverage on Boeing in a research note on Tuesday, December 12th. They issued an outperform rating for the company. Wells Fargo & Company lowered their target price on Boeing from $225.00 to $215.00 and set an equal weight rating for the company in a research report on Thursday, February 1st. TD Cowen lowered their target price on Boeing from $275.00 to $230.00 and set an outperform rating for the company in a research report on Monday, March 25th. Finally, JPMorgan Chase & Co. lowered their target price on Boeing from $270.00 to $230.00 and set an overweight rating for the company in a research report on Monday, March 25th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $241.53.

Boeing Trading Up 0.5 %

Boeing stock opened at $192.99 on Tuesday. Boeing has a 12 month low of $176.25 and a 12 month high of $267.54. The stock’s 50 day moving average is $200.22 and its 200-day moving average is $209.72. The company has a market capitalization of $117.75 billion, a price-to-earnings ratio of -52.44, a PEG ratio of 31.03 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.75) EPS. As a group, equities research analysts predict that Boeing will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Boeing

Several hedge funds have recently added to or reduced their stakes in BA. Moneta Group Investment Advisors LLC lifted its stake in Boeing by 109,667.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after purchasing an additional 16,041,103 shares during the last quarter. Capital Research Global Investors increased its position in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Jennison Associates LLC purchased a new position in shares of Boeing during the fourth quarter valued at about $960,397,000. Wellington Management Group LLP increased its position in shares of Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during the period. 64.82% of the stock is 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.