Boeing (NYSE:BA) Trading 1.1% Higher – Here’s What Happened

The Boeing Company (NYSE:BA)’s share price was up 1.1% during mid-day trading on Thursday . The company traded as high as $152.91 and last traded at $152.40. Approximately 5,210,147 shares changed hands during trading, a decline of 43% from the average daily volume of 9,185,470 shares. The stock had previously closed at $150.76.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Stifel Nicolaus upped their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

The company’s fifty day moving average price is $151.48 and its 200 day moving average price is $167.77. The company has a market cap of $94.21 billion, a PE ratio of -11.81 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 analysts’ expectations of $17.81 billion. During the same period last year, the business posted ($3.26) EPS. The business’s revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -16.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in Boeing by 21.3% during the first quarter. Janus Henderson Group PLC now owns 93,046 shares of the aircraft producer’s stock worth $17,948,000 after buying an additional 16,342 shares during the last quarter. iA Global Asset Management Inc. grew its position in shares of Boeing by 60.7% during the 1st quarter. iA Global Asset Management Inc. now owns 16,527 shares of the aircraft producer’s stock valued at $3,190,000 after acquiring an additional 6,242 shares during the period. Strategic Wealth Partners Ltd. increased its stake in shares of Boeing by 24.3% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 1,590 shares of the aircraft producer’s stock worth $307,000 after purchasing an additional 311 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Boeing in the 1st quarter worth approximately $138,000. Finally, Atria Investments Inc lifted its stake in Boeing by 18.2% in the first quarter. Atria Investments Inc now owns 63,765 shares of the aircraft producer’s stock valued at $12,307,000 after purchasing an additional 9,841 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.