Boeing (NYSE:BA) Price Target Lowered to $224.00 at Citigroup

Boeing (NYSE:BA) had its price objective trimmed by Citigroup from $252.00 to $224.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the aircraft producer’s stock.

BA has been the topic of several other research reports. Bank of America lowered their price target on Boeing from $210.00 to $190.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Sanford C. Bernstein dropped their target price on shares of Boeing from $272.00 to $240.00 and set an outperform rating for the company in a research report on Monday, April 8th. Melius Research restated a hold rating on shares of Boeing in a research report on Monday, April 1st. The Goldman Sachs Group dropped their price target on Boeing from $268.00 to $257.00 and set a buy rating for the company in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Boeing from $230.00 to $210.00 and set an overweight rating on the stock in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $222.41.

Boeing Stock Down 0.5 %

BA traded down $0.83 on Thursday, hitting $165.98. The company’s stock had a trading volume of 588,353 shares, compared to its average volume of 9,674,176. Boeing has a 12 month low of $159.70 and a 12 month high of $267.54. The company’s 50 day simple moving average is $187.26 and its 200-day simple moving average is $206.61.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted ($1.75) earnings per share. On average, sell-side analysts expect that Boeing will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Boeing

Large investors have recently modified their holdings of the stock. Strategic Blueprint LLC boosted its holdings in shares of Boeing by 8.7% during the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after buying an additional 264 shares in the last quarter. Morse Asset Management Inc boosted its stake in Boeing by 65.0% during the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after acquiring an additional 3,152 shares in the last quarter. Peregrine Asset Advisers Inc. grew its holdings in Boeing by 1,335.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after purchasing an additional 33,904 shares during the period. California Public Employees Retirement System increased its stake in shares of Boeing by 2.0% during the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after purchasing an additional 19,847 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Boeing by 5.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock valued at $7,594,000 after purchasing an additional 1,596 shares during the last quarter. 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.