Boeing (NYSE:BA) Given New $282.00 Price Target at Sanford C. Bernstein

Boeing (NYSE:BA) had its price target raised by Sanford C. Bernstein from $249.00 to $282.00 in a research report sent to investors on Thursday,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the aircraft producer’s stock.

BA has been the topic of several other reports. Barclays raised their target price on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and raised their price objective for the stock from $180.00 to $275.00 in a report on Friday, June 27th. UBS Group set a $280.00 target price on shares of Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Jefferies Financial Group set a $255.00 price target on shares of Boeing in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.91.

Boeing Trading Down 0.5%

Shares of BA opened at $216.32 on Thursday. The firm has a fifty day simple moving average of $225.06 and a two-hundred day simple moving average of $204.98. The firm has a market cap of $163.57 billion, a PE ratio of -13.10 and a beta of 1.47. Boeing has a 1-year low of $128.88 and a 1-year high of $242.69.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the prior year, the business posted ($2.90) EPS. Boeing’s revenue was up 34.9% on a year-over-year basis. As a group, research analysts forecast that Boeing will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Asset Planning Inc. purchased a new position in Boeing during the second quarter valued at $25,000. Piscataqua Savings Bank lifted its stake in Boeing by 1,712.5% in the 2nd 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. Howard Hughes Medical Institute bought a new position in shares of Boeing during the 2nd quarter valued at about $34,000. Decker Retirement Planning Inc. bought a new position in shares of Boeing during the 2nd quarter valued at about $35,000. Finally, IMG Wealth Management Inc. grew its position in shares of Boeing by 159.4% during the second quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

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.