J P Morgan Chase & Co Reaffirms Buy Rating for Boeing Company (The) (BA)

J P Morgan Chase & Co reissued their buy rating on shares of Boeing Company (The) (NYSE:BA) in a research report released on Thursday morning. J P Morgan Chase & Co currently has a $300.00 target price on the aircraft producer’s stock.

Several other research analysts also recently commented on the company. Zacks Investment Research raised Boeing Company (The) from a hold rating to a buy rating and set a $228.00 price objective for the company in a research note on Tuesday, July 11th. Canaccord Genuity reissued a hold rating and issued a $235.00 price objective (up from $215.00) on shares of Boeing Company (The) in a research note on Sunday, September 17th. ValuEngine raised Boeing Company (The) from a hold rating to a buy rating in a research note on Friday, September 1st. Cowen and Company reissued an outperform rating and issued a $300.00 price objective (up from $255.00) on shares of Boeing Company (The) in a research note on Monday, July 24th. Finally, Credit Suisse Group reissued a hold rating on shares of Boeing Company (The) in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $256.10.

Shares of Boeing Company (NYSE:BA) opened at 256.46 on Thursday. The stock’s 50 day moving average is $255.39 and its 200 day moving average is $218.14. Boeing Company has a 52-week low of $138.80 and a 52-week high of $267.21. The company has a market cap of $151.59 billion, a PE ratio of 22.47 and a beta of 1.21.

Boeing Company (The) (NYSE:BA) last announced its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. Boeing Company (The) had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion for the quarter, compared to analyst estimates of $24.09 billion. During the same quarter last year, the firm posted $3.51 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Equities analysts forecast that Boeing Company will post $10.08 EPS for the current year.

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In related news, SVP Thomas J. Downey sold 134 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $241.20, for a total transaction of $32,320.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory D. Smith sold 19,757 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $245.42, for a total value of $4,848,762.94. Following the transaction, the chief financial officer now owns 152,195 shares of the company’s stock, valued at $37,351,696.90. The disclosure for this sale can be found here. Insiders have sold a total of 83,468 shares of company stock valued at $20,353,814 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. LMR Partners LLP purchased a new position in shares of Boeing Company (The) in the 2nd quarter valued at about $4,904,000. Allegis Investment Advisors LLC purchased a new position in shares of Boeing Company (The) in the 2nd quarter valued at about $351,000. Investment Partners Ltd. OH ADV boosted its stake in shares of Boeing Company (The) by 1.1% in the 1st quarter. Investment Partners Ltd. OH ADV now owns 7,201 shares of the aircraft producer’s stock valued at $1,274,000 after buying an additional 79 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Boeing Company (The) by 7.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,778 shares of the aircraft producer’s stock valued at $1,199,000 after buying an additional 499 shares during the period. Finally, Alps Advisors Inc. boosted its stake in shares of Boeing Company (The) by 46.4% in the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after buying an additional 1,532 shares during the period. Institutional investors own 72.05% of the company’s stock.

About Boeing Company (The)

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

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