Boeing (NYSE:BA) Trading 4.9% Higher – What’s Next?

The Boeing Company (NYSE:BA) was up 4.9% on Tuesday . The stock traded as high as $165.35 and last traded at $164.71. Approximately 5,142,189 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 9,149,616 shares. The stock had previously closed at $157.04.

Analyst Ratings Changes

BA has been the topic of a number of recent analyst reports. UBS Group reduced their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company decreased their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. 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. Finally, Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $190.11.

Boeing Stock Up 1.1 %

The stock has a market cap of $102.60 billion, a PE ratio of -12.87 and a beta of 1.56. The stock has a 50-day moving average of $152.15 and a 200 day moving average of $166.14.

Boeing (NYSE:BA) last issued 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 for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the business posted ($3.26) earnings per share. Boeing’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts anticipate that The Boeing Company will post -16.18 EPS for the current year.

Institutional Trading of Boeing

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

About Boeing

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.