Boeing (NYSE:BA) Stock Price Up 1.8% – What’s Next?

by · The Cerbat Gem

Shares of The Boeing Company (NYSE:BA – Get Free Report) rose 1.8% during mid-day trading on Friday . The company traded as high as $206.12 and last traded at $204.3290. Approximately 6,879,376 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 8,376,656 shares. The stock had previously closed at $200.71.

Analyst Ratings Changes

Several analysts have recently weighed in on BA shares. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research report on Thursday, October 30th. Jefferies Financial Group set a $255.00 price objective on Boeing in a report on Tuesday, September 30th. JPMorgan Chase & Co. lowered their price objective on Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. New Street Research set a $257.00 target price on Boeing in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.96.

Get Our Latest Stock Report on BA

Boeing Price Performance

The company has a market cap of $155.31 billion, a P/E ratio of -14.94 and a beta of 1.18. The business’s 50 day moving average price is $202.82 and its 200-day moving average price is $214.12.

Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. Boeing’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the company earned ($10.44) earnings per share. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In related news, SVP Dana S. Deasy acquired 554 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were purchased at an average price of $178.88 per share, with a total value of $99,099.52. Following the acquisition, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BA. Alpha Cubed Investments LLC boosted its position in shares of Boeing by 43.3% during the 2nd quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock valued at $754,000 after acquiring an additional 1,088 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing in the second quarter valued at approximately $62,859,000. Vanguard Group Inc. lifted its position in Boeing by 1.7% during the second quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Vestor Capital LLC grew its stake in Boeing by 8,287.4% in the 2nd quarter. Vestor Capital LLC now owns 246,086 shares of the aircraft producer’s stock worth $51,562,000 after buying an additional 243,152 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Boeing by 7.1% in the 2nd quarter. Moors & Cabot Inc. now owns 21,990 shares of the aircraft producer’s stock worth $4,607,000 after buying an additional 1,461 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

About Boeing

(Get Free Report)

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.

Read More