Citigroup Boosts Boeing (NYSE:BA) Price Target to $220.00

Boeing (NYSE:BA - Free Report) had its price target raised by Citigroup from $210.00 to $220.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the aircraft producer's stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on Boeing from $184.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. Benchmark reduced their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Susquehanna boosted their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. Finally, Wells Fargo & Company reiterated an "underweight" rating and set a $140.00 target price (up previously from $111.00) on shares of Boeing in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and an average price target of $198.45.

Boeing Stock Up 0.9 %

NYSE:BA traded up $1.66 during mid-day trading on Thursday, reaching $177.92. 7,635,951 shares of the company were exchanged, compared to its average volume of 9,059,394. Boeing has a 12 month low of $128.88 and a 12 month high of $196.95. The stock has a market cap of $133.46 billion, a PE ratio of -9.71 and a beta of 1.24. The company has a fifty day moving average of $164.87 and a 200 day moving average of $164.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. On average, equities research analysts anticipate that Boeing will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new position in shares of Boeing during the 4th quarter worth approximately $26,000. American National Bank & Trust increased its holdings in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Boeing during the fourth quarter worth $27,000. Fiduciary Advisors Inc. acquired a new stake in Boeing in the fourth quarter valued at $28,000. Finally, HighMark Wealth Management LLC grew its position in shares of Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after acquiring an additional 90 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.