Boeing (NYSE:BA) Rating Increased to Hold at Argus

Argus upgraded shares of Boeing (NYSE:BA) to a hold rating in a report published on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research note on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a report on Wednesday, January 28th. UBS Group upped their price objective on shares of Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Susquehanna reiterated a “positive” rating and set a $280.00 price target on shares of Boeing in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $247.39.

Boeing Price Performance

Shares of NYSE:BA opened at $233.04 on Monday. Boeing has a 12 month low of $128.88 and a 12 month high of $254.35. The firm has a market capitalization of $177.13 billion, a P/E ratio of 115.94, a P/E/G ratio of 12.18 and a beta of 1.15. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The company’s fifty day moving average price is $220.70 and its 200 day moving average price is $218.73.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to analysts’ expectations of $22.41 billion. During the same period in the previous year, the firm posted ($5.90) earnings per share. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. As a group, sell-side analysts predict that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Dana S. Deasy bought 554 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average cost of $178.88 per share, with a total value of $99,099.52. Following the purchase, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This represents a 1.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.09% of the stock is owned by insiders.

Institutional Trading of Boeing

Several institutional investors and hedge funds have recently bought and sold shares of BA. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Boeing by 4.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,788,057 shares of the aircraft producer’s stock valued at $407,266,000 after acquiring an additional 82,751 shares in the last quarter. AssuredPartners Investment Advisors LLC increased its position in Boeing by 8.3% during the fourth quarter. AssuredPartners Investment Advisors LLC now owns 7,569 shares of the aircraft producer’s stock worth $1,643,000 after buying an additional 577 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Boeing by 1.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 339,991 shares of the aircraft producer’s stock valued at $73,819,000 after acquiring an additional 3,368 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 11,291.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,509 shares of the aircraft producer’s stock valued at $19,217,000 after purchasing an additional 87,732 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Boeing by 4.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 19,734 shares of the aircraft producer’s stock valued at $4,285,000 after buying an additional 858 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.