Boeing (NYSE:BA) Trading 2.7% Higher – Here’s Why

The Boeing Company (NYSE:BA)’s share price traded up 2.7% during trading on Tuesday . The company traded as high as $175.68 and last traded at $175.79. 2,551,030 shares were traded during trading, a decline of 67% from the average session volume of 7,637,667 shares. The stock had previously closed at $171.09.

Wall Street Analyst Weigh In

BA has been the topic of a number of analyst reports. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Susquehanna lowered their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley reduced their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, Citigroup reduced their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 2.0 %

The firm has a market capitalization of $110.25 billion, a price-to-earnings ratio of -13.82 and a beta of 1.52. The stock has a 50 day moving average of $164.90 and a 200 day moving average of $164.53.

Boeing (NYSE:BA) last issued its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) earnings per share. Analysts predict that The Boeing Company will post -16.36 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in shares of Boeing by 28.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 32,646 shares of the aircraft producer’s stock worth $5,942,000 after acquiring an additional 7,182 shares during the period. Frank Rimerman Advisors LLC lifted its position in Boeing by 1,401.6% in the second quarter. Frank Rimerman Advisors LLC now owns 2,778 shares of the aircraft producer’s stock worth $506,000 after purchasing an additional 2,593 shares during the period. Public Sector Pension Investment Board boosted its stake in Boeing by 72.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,790 shares of the aircraft producer’s stock valued at $3,966,000 after purchasing an additional 9,171 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Boeing by 3.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,260 shares of the aircraft producer’s stock valued at $1,139,000 after purchasing an additional 191 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Boeing by 61.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,023 shares of the aircraft producer’s stock valued at $20,207,000 after buying an additional 42,174 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.