Boeing (NYSE:BA) Stock Price Up 5.2% – Here’s Why

The Boeing Company (NYSE:BAGet Free Report)’s stock price was up 5.2% on Tuesday . The stock traded as high as $199.33 and last traded at $199.0290. Approximately 8,742,953 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 7,538,210 shares. The stock had previously closed at $189.21.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BA shares. Royal Bank Of Canada boosted their target price on Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Susquehanna reiterated a “positive” rating and issued a $280.00 price target on shares of Boeing in a research report on Thursday, January 15th. Vertical Research reissued a “buy” rating and set a $281.00 price objective on shares of Boeing in a research note on Tuesday, January 27th. UBS Group upped their target price on shares of Boeing from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Zacks Research upgraded shares of Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $248.86.

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Boeing Stock Performance

The stock has a market cap of $156.31 billion, a P/E ratio of 99.02 and a beta of 1.14. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $226.74 and its two-hundred day simple moving average is $216.71.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $10.32. The company had revenue of $23.95 billion for the quarter, compared to the consensus estimate of $22.41 billion. The firm’s revenue was up 57.1% on a year-over-year basis. During the same period in the prior year, the company earned ($5.90) EPS. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, SVP Ann M. Schmidt sold 6,281 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total value of $1,528,606.97. Following the sale, the senior vice president directly owned 13,978 shares in the company, valued at $3,401,825.86. The trade was a 31.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mortimer J. Buckley acquired 2,230 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average price of $224.20 per share, with a total value of $499,966.00. Following the completion of the acquisition, the director owned 4,430 shares of the company’s stock, valued at $993,206. This represents a 101.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 21,012 shares of company stock worth $4,980,687. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Boeing

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Boeing by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after purchasing an additional 3,460,021 shares in the last quarter. Newport Trust Company LLC raised its stake in shares of Boeing by 1.0% during the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after purchasing an additional 286,848 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Boeing by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after buying an additional 533,753 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Boeing by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after buying an additional 135,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Boeing by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,415 shares of the aircraft producer’s stock valued at $948,905,000 after buying an additional 138,469 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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