Boeing (NYSE:BA) Price Target Raised to $230.00 at Royal Bank of Canada

Boeing (NYSE:BA) had its target price raised by Royal Bank of Canada from $200.00 to $230.00 in a report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aircraft producer’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup reaffirmed a “buy” rating on shares of Boeing in a research report on Thursday, May 22nd. Jefferies Financial Group increased their price objective on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Sanford C. Bernstein raised Boeing from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $181.00 to $218.00 in a research report on Monday, April 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Boeing Price Performance

Shares of NYSE:BA opened at $214.08 on Monday. Boeing has a 1-year low of $128.88 and a 1-year high of $218.80. The business has a fifty day moving average price of $186.41 and a 200-day moving average price of $176.08. The company has a market capitalization of $161.42 billion, a PE ratio of -11.69 and a beta of 1.43.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the previous year, the business earned ($1.13) earnings per share. Boeing’s revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Boeing will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president now directly owns 42,513 shares of the company’s stock, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Sierra Ocean LLC bought a new stake in Boeing in the 4th quarter worth approximately $26,000. American National Bank & Trust increased its stake in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares during the last quarter. HighMark Wealth Management LLC increased its stake in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. REAP Financial Group LLC increased its stake in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC increased its stake in Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

About Boeing

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.