Boeing (NYSE:BA) Shares Up 2.1% – Here’s What Happened

The Boeing Company (NYSE:BA)’s share price was up 2.1% on Thursday . The stock traded as high as $170.63 and last traded at $169.75. Approximately 2,023,006 shares were traded during trading, a decline of 73% from the average daily volume of 7,608,851 shares. The stock had previously closed at $166.20.

Analyst Ratings Changes

A number of research firms have weighed in on BA. Deutsche Bank Aktiengesellschaft upped their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Up 1.9 %

The firm has a market cap of $104.70 billion, a PE ratio of -13.11 and a beta of 1.52. The firm’s fifty day simple moving average is $162.02 and its two-hundred day simple moving average is $164.97.

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

Institutional Trading of Boeing

Several institutional investors have recently made changes to their positions in BA. Newport Trust Company LLC lifted its holdings in Boeing by 1.2% in 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 purchasing an additional 388,633 shares in the last quarter. State Street Corp lifted its holdings in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 grew its stake in Boeing by 9.9% during 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 acquiring an additional 602,143 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in 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 acquiring an additional 277,350 shares during the last quarter. Hedge funds and other 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.