Boeing (NYSE:BA) Trading 0.4% Higher – Should You Buy?

The Boeing Company (NYSE:BA)’s share price traded up 0.4% on Wednesday . The company traded as high as $156.08 and last traded at $155.66. 1,666,596 shares traded hands during trading, a decline of 82% from the average session volume of 9,134,045 shares. The stock had previously closed at $155.00.

Analysts Set New Price Targets

Several analysts have issued reports on BA shares. Robert W. Baird lowered their target price 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. Wells Fargo & Company dropped their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Price Performance

The stock has a market cap of $96.85 billion, a PE ratio of -12.15 and a beta of 1.56. The business has a 50 day moving average price of $151.63 and a two-hundred day moving average price of $166.82.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analyst estimates of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently made changes to their positions in the business. Newport Trust Company LLC increased its position in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the period. State Street Corp boosted its stake in shares of 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 purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC raised its stake in Boeing by 2.8% in 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 buying an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in 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 buying an additional 106,513 shares during the period. Finally, Jennison Associates LLC boosted its position in Boeing by 9.9% during the 3rd 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. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.