Boeing Co (NYSE:BA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Market Beat Ratings reports. The firm presently has a $140.00 price objective on the aircraft producer’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.37% from the company’s current price.

According to Zacks, “Boeing reported record deliveries in 2015, thereby, retaining its position as the world’s biggest airplane maker. In fact, jet deliveries for this aerospace major touched an all-time high in 2015, beating its own projection, borne aloft by strong commercial numbers. Moreover, Boeing is the largest aircraft manufacturer in the world in terms of revenue, orders and deliveries, and one of the largest aerospace and defense contractors. Demand for its commercial airplanes is on the rise due to a steady improvement in passenger and freight traffic on the back of a recovering global economy. Nonetheless, Boeing continues to face challenges from the uncertain fate of high-cost programs, risks related to key project executions and order cancellations.”

Shares of Boeing (NYSE:BA) traded down 9.6637% during trading on Monday, hitting $115.6395. The stock had a trading volume of 9,371,629 shares. The stock has a market capitalization of $77.48 billion and a price-to-earnings ratio of 14.5550. Boeing has a 52 week low of $115.02 and a 52 week high of $158.83. The stock’s 50 day moving average is $137.38 and its 200 day moving average is $139.98.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 27th. The aircraft producer reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.34. During the same period last year, the business earned $2.31 earnings per share. The firm had revenue of $23.60 billion for the quarter, compared to analyst estimates of $23.40 billion. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts expect that Boeing will post $7.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 4th. Stockholders of record on Friday, February 12th will be paid a dividend of $1.09 per share. The ex-dividend date of this dividend is Wednesday, February 10th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Boeing’s previous quarterly dividend of $0.49.

In other news, SVP Anthony M. Parasida sold 11,690 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $147.68, for a total value of $1,726,379.20. Following the sale, the senior vice president now directly owns 45,513 shares of the company’s stock, valued at approximately $6,721,359.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Other research analysts also recently issued reports about the company. Canaccord Genuity reissued a “buy” rating and issued a $165.00 target price on shares of Boeing in a report on Tuesday, December 15th. RBC Capital reissued a “sector perform” rating and issued a $149.00 target price (up from $145.00) on shares of Boeing in a report on Wednesday, October 21st. Credit Suisse boosted their target price on Boeing from $156.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, December 18th. Standpoint Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, January 14th. Finally, Wolfe Research restated a “buy” rating on shares of Boeing in a research report on Sunday, December 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $166.81.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Jennison Associates boosted its position in Boeing by 5.1% in the third quarter. Jennison Associates now owns 9,903,392 shares of the aircraft producer’s stock valued at $1,296,849,000 after buying an additional 482,550 shares in the last quarter. Janus Capital Management boosted its position in Boeing by 6.5% in the third quarter. Janus Capital Management now owns 3,543,552 shares of the aircraft producer’s stock valued at $464,028,000 after buying an additional 214,837 shares in the last quarter. Piedmont Investment Advisors LLC boosted its position in Boeing by 0.3% in the fourth quarter. Piedmont Investment Advisors LLC now owns 403,229 shares of the aircraft producer’s stock valued at $58,303,000 after buying an additional 1,350 shares in the last quarter. Fisher Asset Management boosted its position in Boeing by 0.3% in the fourth quarter. Fisher Asset Management now owns 224,262 shares of the aircraft producer’s stock valued at $32,426,000 after buying an additional 599 shares in the last quarter. Finally, Commonwealth Equity Services boosted its position in Boeing by 10.6% in the fourth quarter. Commonwealth Equity Services now owns 202,525 shares of the aircraft producer’s stock valued at $29,283,000 after buying an additional 19,418 shares in the last quarter.

The Boeing Company, together with its subsidiaries, is an aerospace company. The Company operates through five segments: Commercial Airplanes, Boeing Military Aircraft (NYSE:BA), Network & Space Systems (N&SS), Global Services & Support (GS&S) and Boeing Capital (BCC). The Defense, Space & Security (BDS) business includes BMA, N&SS and GS&S. The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services. The BMA segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike. The N&SS segment is engaged in the research, development, production and modification of the products and related services. The GS&S segment provides a range of support solutions. The BCC segment’s portfolio consists of equipment under operating leases, finance leases, notes and other receivables, assets held for sale or re-lease and investments.

12 Month Chart for NYSE:BA

Get a free copy of the Zacks research report on Boeing (BA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Boeing Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing Co and related companies with MarketBeat.com's FREE daily email newsletter.