Boeing (NYSE:BA) PT Lowered to $257.00 at The Goldman Sachs Group

Boeing (NYSE:BA) had its target price lowered by The Goldman Sachs Group from $268.00 to $257.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the aircraft producer’s stock.

Several other research firms also recently issued reports on BA. Wells Fargo & Company decreased their price objective on shares of Boeing from $225.00 to $215.00 and set an equal weight rating for the company in a research note on Thursday, February 1st. Northcoast Research downgraded Boeing from a buy rating to a neutral rating in a research report on Friday, February 23rd. TD Cowen lowered 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. Bank of America reduced their price target on Boeing from $225.00 to $210.00 and set a neutral rating on the stock in a research report on Thursday, March 21st. Finally, Barclays increased their price objective on shares of Boeing from $210.00 to $235.00 and gave the company an equal weight rating in a research report on Wednesday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of Moderate Buy and an average target price of $242.65.

Boeing Price Performance

Boeing stock opened at $191.96 on Monday. Boeing has a 12-month low of $176.25 and a 12-month high of $267.54. The stock has a market capitalization of $117.12 billion, a P/E ratio of -51.89, a P/E/G ratio of 30.94 and a beta of 1.52. The firm’s 50-day moving average is $200.81 and its two-hundred day moving average is $209.96.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the company earned ($1.75) earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Boeing will post 1.55 EPS for the current year.

Hedge Funds Weigh In On Boeing

Institutional investors have recently modified their holdings of the company. Bollard Group LLC raised its holdings in shares of Boeing by 10.6% in the 2nd quarter. Bollard Group LLC now owns 469 shares of the aircraft producer’s stock worth $99,000 after purchasing an additional 45 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Boeing by 1.0% during the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after acquiring an additional 45 shares in the last quarter. Benchmark Financial Wealth Advisors LLC raised its position in shares of Boeing by 2.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after purchasing an additional 47 shares during the period. Waverly Advisors LLC lifted its holdings in shares of Boeing by 0.6% during the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock valued at $1,527,000 after purchasing an additional 49 shares during the last quarter. Finally, WealthPlan Investment Management LLC boosted its position in shares of Boeing by 1.0% in the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after purchasing an additional 49 shares during the period. 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.