Traders Buy Large Volume of Boeing Call Options (NYSE:BA)

The Boeing Company (NYSE:BA) was the target of unusually large options trading on Tuesday. Traders acquired 158,103 call options on the stock. This represents an increase of 34% compared to the average daily volume of 118,359 call options.

Institutional Trading of Boeing

A number of large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC raised its stake in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. lifted its position in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Wulff Hansen & CO. grew its holdings in shares of Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, Newport Trust Company LLC boosted its position in shares of Boeing by 1.2% in the 2nd 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 during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Trading Down 2.6 %

BA stock traded down $4.07 during mid-day trading on Tuesday, reaching $151.00. The company’s stock had a trading volume of 22,857,861 shares, compared to its average volume of 8,888,812. Boeing has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The stock has a market cap of $93.35 billion, a PE ratio of -11.86 and a beta of 1.57. The company’s 50 day moving average is $157.09 and its two-hundred day moving average is $170.90.

Boeing (NYSE:BA) last posted its earnings results 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 business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted ($3.26) earnings per share. On average, analysts forecast that Boeing will post -16.13 earnings per share for the current fiscal year.

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.