Boeing (NYSE:BA) PT Lowered to $230.00 at JPMorgan Chase & Co.

Boeing (NYSE:BA) had its price target cut by JPMorgan Chase & Co. from $270.00 to $230.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the aircraft producer’s stock.

BA has been the subject of a number of other reports. Wells Fargo & Company cut their price target on Boeing from $225.00 to $215.00 and set an equal weight rating for the company in a report on Thursday, February 1st. Stifel Nicolaus assumed coverage on Boeing in a research note on Friday, December 1st. They issued a buy rating and a $265.00 target price for the company. Susquehanna dropped their target price on Boeing from $265.00 to $230.00 and set a positive rating for the company in a research note on Thursday, March 21st. Royal Bank of Canada dropped their target price on Boeing from $285.00 to $260.00 and set an outperform rating for the company in a research note on Thursday, February 1st. Finally, TD Cowen dropped their target price on Boeing from $275.00 to $230.00 and set an outperform rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $242.65.

Boeing Stock Up 2.4 %

NYSE BA opened at $191.96 on Monday. Boeing has a fifty-two week low of $176.25 and a fifty-two week high of $267.54. The stock has a market cap of $117.12 billion, a price-to-earnings ratio of -51.89, a price-to-earnings-growth ratio of 30.94 and a beta of 1.52. The business has a fifty day moving average of $200.81 and a 200-day moving average of $209.96.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the firm earned ($1.75) earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Boeing will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of BA. Moneta Group Investment Advisors LLC boosted its position in shares of Boeing by 109,667.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after buying an additional 16,041,103 shares during the period. Capital Research Global Investors boosted its holdings in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Jennison Associates LLC purchased a new position in Boeing in the fourth quarter valued at about $960,397,000. Wellington Management Group LLP boosted its holdings in Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the last quarter. Hedge funds and other 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.