Boeing (NYSE:BA) Shares Up 3.1% – Here’s Why

Shares of The Boeing Company (NYSE:BA) rose 3.1% on Friday . The stock traded as high as $153.98 and last traded at $153.90. Approximately 5,037,446 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 8,750,946 shares. The stock had previously closed at $149.31.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. UBS Group decreased their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Three equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Up 3.8 %

The company has a market cap of $95.85 billion, a PE ratio of -11.93 and a beta of 1.57. The stock has a 50-day moving average of $157.86 and a 200-day moving average of $171.09.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts expect that The Boeing Company will post -16.22 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. 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 purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 106,513 shares during the period. Jennison Associates LLC increased its holdings in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the period. 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.