Boeing (NYSE:BA) Shares Up 0.4% – What’s Next?

The Boeing Company (NYSE:BA) rose 0.4% during trading on Wednesday . The company traded as high as $152.00 and last traded at $151.41. Approximately 1,488,087 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 9,168,270 shares. The stock had previously closed at $150.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Robert W. Baird dropped 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. UBS Group lowered their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Up 0.9 %

The company has a 50 day moving average price of $151.53 and a 200-day moving average price of $167.88. The company has a market cap of $94.02 billion, a price-to-earnings ratio of -11.74 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -16.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Boeing by 21.3% during the 1st quarter. Janus Henderson Group PLC now owns 93,046 shares of the aircraft producer’s stock worth $17,948,000 after acquiring an additional 16,342 shares during the last quarter. Tidal Investments LLC grew its position in Boeing by 22.1% during the first quarter. Tidal Investments LLC now owns 36,178 shares of the aircraft producer’s stock valued at $6,973,000 after buying an additional 6,559 shares during the period. iA Global Asset Management Inc. increased its holdings in Boeing by 60.7% during the first quarter. iA Global Asset Management Inc. now owns 16,527 shares of the aircraft producer’s stock worth $3,190,000 after buying an additional 6,242 shares during the last quarter. Plato Investment Management Ltd boosted its stake in Boeing by 1,860.7% in the first quarter. Plato Investment Management Ltd now owns 10,078 shares of the aircraft producer’s stock valued at $1,945,000 after acquiring an additional 9,564 shares during the last quarter. Finally, Montchanin Asset Management LLC bought a new position in shares of Boeing during the 1st quarter valued at approximately $1,674,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.