Boeing (NYSE:BA) Trading Up 1.2% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price traded up 1.2% on Friday . The company traded as high as $171.76 and last traded at $170.97. 2,370,607 shares were traded during mid-day trading, a decline of 68% from the average session volume of 7,440,130 shares. The stock had previously closed at $168.93.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BA shares. Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 0.6 %

The firm has a market cap of $105.06 billion, a price-to-earnings ratio of -13.18 and a beta of 1.52. The firm has a fifty day moving average price of $162.40 and a 200-day moving average price of $164.98.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm posted ($3.26) earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that The Boeing Company will post -16.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently bought and sold shares of BA. Newport Trust Company LLC increased its holdings in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the last quarter. State Street Corp grew its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the period. Geode Capital Management LLC increased its stake in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Institutional investors and hedge funds 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.