Boeing (NYSE:BA) Stock Price Up 5.6% – Here’s What Happened

The Boeing Company (NYSE:BA)’s share price shot up 5.6% during trading on Wednesday . The stock traded as high as $171.00 and last traded at $170.66. 2,587,980 shares traded hands during trading, a decline of 66% from the average session volume of 7,635,709 shares. The stock had previously closed at $161.57.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BA shares. Wells Fargo & Company increased their price objective on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. UBS Group boosted their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $195.68.

Boeing Trading Up 0.1 %

The firm has a market capitalization of $129.63 billion, a price-to-earnings ratio of -9.43 and a beta of 1.53. The business has a 50-day moving average price of $172.86 and a two-hundred day moving average price of $163.54.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business earned ($0.47) earnings per share. On average, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sierra Ocean LLC acquired a new position in Boeing during the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new stake in Boeing during the fourth quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC lifted its position in Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

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.