Boeing (NYSE:BA) Trading 0.5% Higher – Here’s Why

The Boeing Company (NYSE:BA)’s share price shot up 0.5% on Thursday . The company traded as high as $141.55 and last traded at $140.71. 3,408,426 shares were traded during mid-day trading, a decline of 63% from the average session volume of 9,105,095 shares. The stock had previously closed at $139.97.

Analyst Ratings Changes

A number of brokerages have commented on BA. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Robert W. Baird lowered their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Stock Down 0.7 %

The firm has a market cap of $85.97 billion, a price-to-earnings ratio of -10.91 and a beta of 1.57. The company’s fifty day moving average is $154.03 and its 200 day moving average is $169.89.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. On average, equities research analysts forecast that The Boeing Company will post -16.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC lifted its position in Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Jennison Associates LLC grew its position in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after purchasing an additional 277,350 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.