Boeing (NYSE:BA) Stock Price Up 1.1% – Here’s Why

Shares of The Boeing Company (NYSE:BA) rose 1.1% on Thursday . The company traded as high as $152.91 and last traded at $152.40. Approximately 5,210,147 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 9,185,470 shares. The stock had previously closed at $150.76.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BA. Jefferies Financial Group reduced their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

The stock has a market cap of $96.22 billion, a price-to-earnings ratio of -12.07 and a beta of 1.57. The business has a 50-day simple moving average of $151.48 and a two-hundred day simple moving average of $167.51.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (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. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($3.26) EPS. On average, analysts expect that The Boeing Company will post -16.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BA. Pathway Financial Advisers LLC acquired a new stake in Boeing in the first quarter valued at $53,000. EverSource Wealth Advisors LLC grew its holdings in Boeing by 36.5% during the first quarter. EverSource Wealth Advisors LLC now owns 5,730 shares of the aircraft producer’s stock worth $1,106,000 after purchasing an additional 1,532 shares during the period. HM Payson & Co. increased its position in Boeing by 10.0% during the first quarter. HM Payson & Co. now owns 3,483 shares of the aircraft producer’s stock worth $672,000 after buying an additional 318 shares during the last quarter. GAMMA Investing LLC raised its stake in Boeing by 47.0% in the second quarter. GAMMA Investing LLC now owns 3,805 shares of the aircraft producer’s stock valued at $693,000 after buying an additional 1,216 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Boeing by 10.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,789 shares of the aircraft producer’s stock valued at $508,000 after buying an additional 271 shares during the last quarter. 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.