Boeing Co. (NYSE:BA) had its price target reduced by equities researchers at Barclays PLC from $155.00 to $150.00 in a report issued on Thursday, StockTargetPrices.com reports. The brokerage presently has an “overweight” rating on the aircraft producer’s stock. Barclays PLC’s price target points to a potential upside of 11.39% from the stock’s current price.
A number of other research analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. set a $107.00 price target on shares of Boeing and gave the company a “sell” rating in a research report on Tuesday, August 30th. Vetr cut shares of Boeing from a “hold” rating to a “sell” rating and set a $126.07 target price for the company. in a report on Wednesday, August 24th. Jefferies Group reaffirmed a “buy” rating and issued a $133.53 target price (down from $165.00) on shares of Boeing in a report on Friday, July 22nd. JPMorgan Chase & Co. set a $140.00 target price on shares of Boeing and gave the stock a “neutral” rating in a report on Monday, July 4th. Finally, Citigroup Inc. decreased their target price on shares of Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Boeing presently has an average rating of “Hold” and a consensus price target of $147.94.
Shares of Boeing (NYSE:BA) opened at 134.66 on Thursday. The company has a 50 day moving average of $131.42 and a 200-day moving average of $131.13. Boeing has a 12-month low of $102.10 and a 12-month high of $150.59. The firm has a market cap of $84.00 billion, a price-to-earnings ratio of 24.24 and a beta of 1.03.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same period last year, the company posted $1.62 EPS. Boeing’s revenue was up .9% on a year-over-year basis. Analysts predict that Boeing will post $6.29 EPS for the current year.
In other news, Director Randall L. Stephenson bought 1,871 shares of Boeing stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $133.89 per share, with a total value of $250,508.19. Following the completion of the purchase, the director now owns 3,721 shares in the company, valued at approximately $498,204.69. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
Several large investors have recently made changes to their positions in BA. Capital World Investors increased its stake in shares of Boeing by 8.8% in the second quarter. Capital World Investors now owns 47,676,799 shares of the aircraft producer’s stock valued at $6,191,786,000 after buying an additional 3,866,637 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Boeing by 15.8% in the second quarter. Capital Research Global Investors now owns 19,728,620 shares of the aircraft producer’s stock valued at $2,562,156,000 after buying an additional 2,690,120 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Boeing during the second quarter valued at $316,346,000. Franklin Resources Inc. increased its stake in shares of Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock valued at $622,808,000 after buying an additional 1,984,650 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Boeing by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 3,214,195 shares of the aircraft producer’s stock valued at $417,213,000 after buying an additional 663,424 shares in the last quarter. 75.46% of the stock is currently owned by institutional investors and hedge funds.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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