Boeing (NYSE:BA) Given New $240.00 Price Target at Sanford C. Bernstein

Boeing (NYSE:BA) had its target price trimmed by Sanford C. Bernstein from $272.00 to $240.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the aircraft producer’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Boeing from $270.00 to $230.00 and set an overweight rating for the company in a report on Monday, March 25th. Susquehanna lowered 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. Bank of America lowered their target price on Boeing from $225.00 to $210.00 and set a neutral rating for the company in a research note on Thursday, March 21st. Northcoast Research downgraded Boeing from a buy rating to a neutral rating in a research note on Friday, February 23rd. Finally, Edward Jones downgraded Boeing from a buy rating to a hold rating in a research note on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $241.44.

Boeing Stock Down 0.8 %

Shares of Boeing stock opened at $181.75 on Monday. Boeing has a fifty-two week low of $176.25 and a fifty-two week high of $267.54. The firm has a market cap of $110.89 billion, a PE ratio of -49.39, a P/E/G ratio of 46.93 and a beta of 1.52. The business’s fifty day moving average is $196.93 and its two-hundred day moving average is $208.76.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted ($1.75) earnings per share. Equities research analysts anticipate that Boeing will post 0.98 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in BA. United Bank increased its stake in shares of Boeing by 4.7% during the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after acquiring an additional 226 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Boeing by 1,064.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock worth $163,000 after buying an additional 777 shares during the last quarter. Panagora Asset Management Inc. grew its position in Boeing by 68.0% in the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock worth $1,362,000 after buying an additional 2,879 shares during the last quarter. Prudential PLC acquired a new position in Boeing in the first quarter worth approximately $836,000. Finally, Dakota Wealth Management grew its position in Boeing by 26.7% in the first quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock worth $408,000 after buying an additional 448 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.