Boeing (NYSE:BA) Trading Up 0.9% – What’s Next?

The Boeing Company (NYSE:BA) shares traded up 0.9% on Monday . The company traded as high as $173.94 and last traded at $171.36. 3,572,935 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 8,664,484 shares. The stock had previously closed at $169.90.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group cut 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. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $210.00 in a research report on Monday. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Two 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 MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Up 0.6 %

The stock has a market capitalization of $105.68 billion, a price-to-earnings ratio of -13.25 and a beta of 1.52. The company’s 50-day simple moving average is $159.43 and its 200 day simple moving average is $165.34.

Boeing (NYSE:BA) last posted its earnings results 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. Boeing’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned ($3.26) earnings per share. On average, equities analysts expect that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently bought and sold shares of the company. Newport Trust Company LLC boosted its holdings 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 acquiring an additional 388,633 shares during the period. State Street Corp boosted its holdings in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the period. Geode Capital Management LLC boosted its holdings in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after acquiring an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares during the period. Finally, Jennison Associates LLC boosted its holdings 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 during the period. 64.82% of the stock is currently owned by institutional investors.

About Boeing

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.