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

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

Other equities analysts have also issued reports about the stock. TD Cowen lowered their price target on shares of Boeing from $275.00 to $230.00 and set an outperform rating on the stock in a research report on Monday. Northcoast Research lowered shares of Boeing from a buy rating to a neutral rating in a research report on Friday, February 23rd. Edward Jones lowered shares of Boeing from a buy rating to a hold rating in a research report on Monday, January 8th. William Blair initiated coverage on shares of Boeing in a research report on Tuesday, December 12th. They set an outperform rating on the stock. Finally, Bank of America decreased their target price on shares of Boeing from $225.00 to $210.00 and set a neutral rating on the stock in a report on Thursday, March 21st. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $242.65.

Boeing Stock Performance

NYSE BA opened at $191.96 on Monday. The firm has a 50-day moving average of $200.81 and a 200-day moving average of $209.96. The stock has a market cap of $117.12 billion, a PE ratio of -51.89, a P/E/G ratio of 30.94 and a beta of 1.52. Boeing has a 52-week low of $176.25 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted its 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 company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the business posted ($1.75) EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that Boeing will post 1.55 EPS for the current fiscal year.

Institutional Trading of Boeing

Hedge funds have recently made changes to their positions in the stock. CNB Bank lifted its stake in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $26,000. Evolution Advisers Inc. bought a new stake in Boeing in the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing in the fourth quarter worth approximately $28,000. Finally, VisionPoint Advisory Group LLC bought a new position in Boeing during the second quarter valued at approximately $32,000. 64.82% of the stock is owned by institutional investors.

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.