Shares of Boeing BA have soared over 33% in 2019 to crush the S&P 500’s 11% climb. The aerospace powerhouse’s stock has even outpaced huge comebacks from the likes of Facebook FB. So, let’s see why Boeing looks like a strong buy at the moment.Recent News Boeing announced near the end of February that Brazil-based Embraer SA shareholders approved their joint venture. The proposed deal, which has been in the works for some time now, will see Boeing pay roughly $4.2 billion for an 80% stake in Embraer’s commercial jetliner business. The Chicago-based firm will also take a 49% stake in a new joint venture on KC-390 military aircraft.The move is projected to help Boeing better compete against European rival Airbus EADSY in the smaller aircraft market, with less than 150 seats. The Boeing and Embraer deal still faces regulatory approval, but is expected to officially close by the end of the year.Boeing also recently partnered with Reno, Nevada-based Aerion to help push forward the next-generation of supersonic aircraft. BA is set to offer manufacturing, engineering, flight test resources, among other things, in order to bring Aerion’s AS2 supersonic business jet to market. The supersonic aircraft is designed to fly at speeds up to 1,000 miles per hour, or Mach 1.4—roughly 70% faster than current business jets. The AS2 is slated for its first flight in 2023 and is expected to save roughly three hours on transatlantic flights.Price Movement As we mentioned at the top, BA stock has soared to start the year, along with fellow Dow components like United Technologies Corp UTX, Caterpillar CAT, Cisco CSCO, and others. The recent climb has seen shares of Boeing hit multiple new highs in 2019. BA stock closed regular trading Tuesday at $430 a share, which marked a roughly 3% downturn from its 52-week high of $446 a share.Meanwhile, the chart shows investors that Boeing has been able to stand out from its peer group, which includes General Dynamics GD, Lockheed Martin LMT, and Northrop Grumman NOC, in recent years.Outlook & Earnings Trends Looking ahead, Boeing projects that it will set a new commercial jet delivery record in 2019. The firm provided guidance between 895 to 905, which would blow past 2018’s previous record of 806. Boeing also said that its Dreamliner jets have remained in high demand from the likes of American Airlines AAL and United Airlines UAL.Our current Zacks Consensus Estimate calls for Boeing’s Q1 2019 revenues to pop 8.3% to reach $25.32 billion. This would fall short of Q4’s 14% expansion, but investors should remember that Boeing soared well above our fourth-quarter estimate. Plus, BA’s second-quarter revenues are projected to jump 12.3% above the year-ago period. And Boeing’s full-year 2019 revenues are projected to surge roughly 10% to reach $111.16 billion.Along with the company’s strong top-line projection, Boeing’s adjusted Q1 earnings are expected to surge 16.6% to reach $4.25 a share. The firm’s Q2 EPS figure is projected to skyrocket roughly 45%, with the full-year earnings expected to climb nearly 26%. Investors will also see that the company’s earnings estimate revisions picture has turned far more positive recently. Bottom LineBoeing’s positive earnings revision activity helps the company earn a Zacks Rank #1 (Strong Buy) at the moment. BA is also a dividend payer that raised its Q1 2019 per share payout by 20% from last year’s $1.71 to $2.055.Lastly, Boeing stock is trading at 20.9X forward 12-month Zacks Consensus EPS estimates. This represents a discount compared to its two-high of 30.6X and its two-year median of 21.9X, which helps us see that BA stock is hardly stretched, despite its recent climb.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Cisco Systems, Inc. (CSCO): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report United Technologies Corporation (UTX): Free Stock Analysis Report Caterpillar Inc. (CAT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research