JPMorgan Chase & Co. Cuts Boeing (NYSE:BA) Price Target to $190.00

Boeing (NYSE:BA) had its price target decreased by JPMorgan Chase & Co. from $195.00 to $190.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aircraft producer’s stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. UBS Group cut their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boeing presently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Up 1.1 %

Shares of BA stock opened at $152.40 on Monday. The stock has a market capitalization of $94.21 billion, a PE ratio of -11.81 and a beta of 1.57. The firm has a 50 day moving average of $151.44 and a two-hundred day moving average of $167.67. Boeing has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($3.26) earnings per share. Analysts expect that Boeing will post -16.2 EPS for the current fiscal year.

Institutional Trading of Boeing

Institutional investors have recently added to or reduced their stakes in the stock. Newport Trust Company LLC lifted its holdings in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. State Street Corp lifted its holdings in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Hedge funds and other 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.