Boeing (NYSE:BA) Shares Up 2% – What’s Next?
by Danessa Lincoln · The Markets DailyThe Boeing Company (NYSE:BA – Get Free Report)’s stock price traded up 2% during mid-day trading on Monday . The company traded as high as $212.40 and last traded at $212.3190. 4,142,596 shares were traded during mid-day trading, a decline of 45% from the average session volume of 7,520,414 shares. The stock had previously closed at $208.22.
Analysts Set New Price Targets
Several analysts have issued reports on BA shares. Morgan Stanley set a $245.00 target price on Boeing in a research note on Wednesday, January 28th. Susquehanna reissued a “positive” rating and issued a $280.00 price objective on shares of Boeing in a report on Thursday, January 15th. Wolfe Research restated an “outperform” rating on shares of Boeing in a research note on Tuesday, January 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Boeing in a report on Wednesday, January 28th. Finally, UBS Group increased their target price on shares of Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.48.
Check Out Our Latest Stock Analysis on BA
Boeing Stock Performance
The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The company has a market capitalization of $166.74 billion, a PE ratio of 105.63 and a beta of 1.13. The company has a 50-day moving average price of $223.16 and a two-hundred day moving average price of $216.44.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The company had revenue of $23.95 billion for the quarter, compared to analysts’ expectations of $22.41 billion. During the same period last year, the company posted ($5.90) EPS. The business’s revenue for the quarter was up 57.1% on a year-over-year basis. Analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.
Insider Activity
In other news, EVP Uma M. Amuluru sold 2,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total value of $644,516.00. Following the completion of the transaction, the executive vice president directly owned 11,925 shares in the company, valued at approximately $2,814,300. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ann M. Schmidt sold 6,281 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the transaction, the senior vice president directly owned 13,978 shares of the company’s stock, valued at approximately $3,401,825.86. This represents a 31.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,012 shares of company stock valued at $4,980,687 over the last ninety days. 0.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Old North State Trust LLC purchased a new stake in shares of Boeing in the fourth quarter worth $258,000. J. Derek Lewis & Associates Inc. bought a new position in Boeing in the 4th quarter worth about $1,037,000. Cornerstone Planning LLC purchased a new stake in shares of Boeing in the 4th quarter valued at about $2,053,000. World Investment Advisors boosted its position in shares of Boeing by 21.2% during the 4th quarter. World Investment Advisors now owns 14,048 shares of the aircraft producer’s stock valued at $3,050,000 after acquiring an additional 2,461 shares during the last quarter. Finally, Vericrest Private Wealth bought a new stake in shares of Boeing during the 4th quarter valued at about $213,000. Institutional investors own 64.82% of the company’s stock.
About Boeing
Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.
Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.