Boeing (NYSE:BA) Price Target Raised to $103.00 at Wells Fargo & Company

Boeing (NYSE:BA) had its target price hoisted by Wells Fargo & Company from $85.00 to $103.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an underweight rating on the aircraft producer’s stock.

BA has been the topic of a number of other reports. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Boeing Stock Performance

Shares of BA opened at $174.03 on Wednesday. The firm has a market cap of $107.58 billion, a price-to-earnings ratio of -13.49 and a beta of 1.52. Boeing has a 52-week low of $137.03 and a 52-week high of $214.63. The business’s fifty day moving average is $167.68 and its 200-day moving average is $164.19.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the company posted ($0.47) earnings per share. As a group, research analysts forecast that Boeing will post -16.39 EPS for the current fiscal year.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc lifted its stake in shares of Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after purchasing an additional 710 shares during the period. Carnegie Investment Counsel raised its position in Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares in the last quarter. 64.82% of the stock is 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.