Short Interest in The Boeing Company (NYSE:BA) Grows By 9.0%

The Boeing Company (NYSE:BA) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 14,310,000 shares, a growth of 9.0% from the June 15th total of 13,130,000 shares. Based on an average daily trading volume, of 6,700,000 shares, the short-interest ratio is presently 2.1 days.

Hedge Funds Weigh In On Boeing

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Northern Trust Corp increased its position in shares of Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after purchasing an additional 52,081 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several research reports. TD Cowen cut their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Argus downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Northcoast Research lowered Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target on the stock. in a report on Wednesday, April 17th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Trading Down 2.3 %

BA traded down $4.31 on Thursday, hitting $180.53. 3,169,639 shares of the company were exchanged, compared to its average volume of 8,244,396. The company has a market cap of $110.82 billion, a price-to-earnings ratio of -52.33 and a beta of 1.56. The firm has a 50-day moving average price of $181.49 and a two-hundred day moving average price of $191.50. Boeing has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. Equities analysts expect that Boeing will post -1.75 EPS for the current year.

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.