Boeing (NYSE:BA) Stock Price Up 1%

The Boeing Company (NYSE:BA) shares rose 1% on Thursday . The stock traded as high as $154.41 and last traded at $153.70. Approximately 2,711,006 shares changed hands during trading, a decline of 66% from the average daily volume of 7,977,603 shares. The stock had previously closed at $152.22.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BA shares. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Robert W. Baird reduced their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 target price (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Sanford C. Bernstein reduced their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Price Performance

The business has a 50 day simple moving average of $168.52 and a 200 day simple moving average of $176.20. The company has a market capitalization of $95.96 billion, a price-to-earnings ratio of -44.03 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the company posted ($0.82) earnings per share. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -4.27 EPS for the current year.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Boeing by 2.5% in 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 buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC raised 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 worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in 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 valued at $1,386,757,000 after acquiring an additional 106,513 shares during the last quarter. 64.82% of the stock is currently 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.