Boeing (NYSE:BA) Trading 0.3% Higher – Here’s What Happened

The Boeing Company (NYSE:BA) was up 0.3% on Wednesday . The company traded as high as $179.35 and last traded at $177.00. Approximately 9,739,162 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 9,357,763 shares. The stock had previously closed at $176.55.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BA shares. UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Susquehanna dropped their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Finally, Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $191.16.

Boeing Stock Down 2.9 %

The firm has a market cap of $106.25 billion, a price-to-earnings ratio of -13.32 and a beta of 1.56. The stock’s 50 day moving average is $158.80 and its 200 day moving average is $165.49.

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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.26) EPS. Analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently made changes to their positions in the business. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares during the last quarter. State Street Corp increased its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after buying an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA lifted its stake 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 buying an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.