Traders Buy High Volume of Call Options on Boeing (NYSE:BA)

The Boeing Company (NYSE:BA) was the recipient of some unusual options trading on Tuesday. Investors bought 171,371 call options on the company. This is an increase of approximately 21% compared to the average daily volume of 141,183 call options.

Hedge Funds Weigh In On Boeing

Large investors have recently modified their holdings of the business. Lantz Financial LLC grew its holdings in Boeing by 109.7% during the 2nd quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after buying an additional 1,410 shares in the last quarter. RFG Advisory LLC increased its holdings in Boeing by 10.6% during the 2nd quarter. RFG Advisory LLC now owns 3,288 shares of the aircraft producer’s stock worth $598,000 after acquiring an additional 316 shares during the period. Burke & Herbert Bank & Trust Co. lifted its stake in Boeing by 109.4% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 4,187 shares of the aircraft producer’s stock worth $762,000 after purchasing an additional 2,187 shares in the last quarter. Diversified Trust Co lifted its stake in Boeing by 27.2% in the 2nd quarter. Diversified Trust Co now owns 2,672 shares of the aircraft producer’s stock worth $486,000 after purchasing an additional 572 shares in the last quarter. Finally, Deltec Asset Management LLC boosted its holdings in Boeing by 29.1% in the 2nd quarter. Deltec Asset Management LLC now owns 5,100 shares of the aircraft producer’s stock valued at $928,000 after purchasing an additional 1,150 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 4.6 %

NYSE:BA opened at $164.20 on Wednesday. The firm’s 50 day moving average is $151.69 and its 200 day moving average is $166.22. Boeing has a 12 month low of $137.03 and a 12 month high of $267.54. The stock has a market capitalization of $101.51 billion, a PE ratio of -12.72 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% on a year-over-year basis. Research analysts predict that Boeing will post -16.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BA. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $190.11.

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.