Boeing (NYSE:BA) Stock Price Up 1% – Time to Buy?

The Boeing Company (NYSE:BA) shares shot up 1% during trading on Friday . The stock traded as high as $179.33 and last traded at $178.80. 4,478,785 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 9,290,008 shares. The stock had previously closed at $177.04.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BA. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Citigroup reduced their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird reduced their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Trading Up 0.2 %

The stock has a 50-day moving average of $155.10 and a two-hundred day moving average of $165.90. The firm has a market cap of $109.64 billion, a price-to-earnings ratio of -13.75 and a beta of 1.56.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm posted ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts expect that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Trading of Boeing

A number of hedge funds have recently modified their holdings of BA. Newport Trust Company LLC raised 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 valued at $5,758,830,000 after buying an additional 388,633 shares during the period. State Street Corp grew its stake in Boeing by 2.3% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA lifted 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 worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% during the third 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. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.