Citigroup Begins Coverage on Boeing (NYSE:BA)

Citigroup assumed coverage on shares of Boeing (NYSE:BA) in a note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating on the aircraft producer’s stock.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective on the stock. in a research report on Thursday, October 30th. Loop Capital set a $223.00 price target on Boeing in a report on Monday, November 3rd. UBS Group restated a “buy” rating on shares of Boeing in a report on Wednesday. Susquehanna reduced their target price on Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $232.96.

Boeing Stock Performance

NYSE BA opened at $204.33 on Thursday. The company has a market cap of $155.31 billion, a P/E ratio of -14.94 and a beta of 1.18. The business’s 50 day moving average price is $202.82 and its 200-day moving average price is $214.03. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. During the same period last year, the firm earned ($10.44) earnings per share. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, equities analysts predict that Boeing will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other news, SVP Dana S. Deasy acquired 554 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the acquisition, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

Several hedge funds have recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Boeing during the 3rd quarter worth approximately $25,000. Harbor Asset Planning Inc. purchased a new position in Boeing in the second quarter worth $25,000. Piscataqua Savings Bank increased its position in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 137 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new stake in shares of Boeing during the 3rd quarter valued at $32,000. Finally, Davis Capital Management acquired a new stake in shares of Boeing in the 3rd quarter worth $33,000. 64.82% of the stock is owned by hedge funds and other 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.