Boeing (NYSE:BA) Trading Up 1.1% – Here’s What Happened

The Boeing Company (NYSE:BA) rose 1.1% during trading on Thursday . The company traded as high as $152.91 and last traded at $152.40. Approximately 5,210,147 shares were traded 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Trading Up 1.1 %

The stock has a market capitalization of $94.21 billion, a price-to-earnings ratio of -11.81 and a beta of 1.57. The company’s 50-day simple moving average is $151.48 and its 200-day simple moving average is $167.77.

Boeing (NYSE:BA) last announced its 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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.26) earnings per share. On average, equities research analysts expect that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing in the 3rd quarter worth approximately $28,000. Cedar Wealth Management LLC bought a new position in Boeing during the third quarter worth $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing during the second quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. 64.82% of the stock is 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.