Stock Traders Buy Large Volume of Boeing Put Options (NYSE:BA)

The Boeing Company (NYSE:BA) was the recipient of some unusual options trading activity on Thursday. Traders bought 145,457 put options on the stock. This represents an increase of approximately 65% compared to the typical daily volume of 87,961 put options.

Recent Boeing Headlines

Investors following BA have been watching these headlines:

• Neutral Sentiment: A law firm announced an investigation into possible securities-law violations involving Boeing. The announcement does not establish wrongdoing, but adds a potential legal and reputational overhang for investors. Article: Kaplan Fox Announces an Investigation
• Negative Sentiment: Recent reports highlight production delays, labor shortages and 777X setbacks, while October jet deliveries fell from the prior month and year-earlier level. These execution problems may weigh on near-term performance despite Boeing’s large backlog and defense business. Article: Boeing Stock Drops 25.6% in 3 Months Article: Boeing October Jet Deliveries Decline
• Negative Sentiment: Safety inspectors are calling for more contact with the factory floor as Boeing works to change its safety culture. The renewed focus may reinforce concerns about manufacturing oversight and the pace of recovery. Article: Safety Inspectors Call for More Factory-Floor Contact

Insider Activity at Boeing

In other Boeing news, Director Mortimer Buckley purchased 5,820 shares of Boeing stock in a transaction on Friday, October 30th. The shares were purchased at an average cost of $171.55 per share, with a total value of $998,421.00. Following the completion of the transaction, the director directly owned 10,250 shares in the company, valued at approximately $1,758,387.50. This represents a 131.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Mollenkopf acquired 2,950 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were acquired at an average price of $173.03 per share, with a total value of $510,438.50. Following the completion of the purchase, the director owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This trade represents a 78.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Meeder Advisory Services Inc. raised its holdings in Boeing by 13.9% in the third quarter. Meeder Advisory Services Inc. now owns 14,077 shares of the aircraft producer’s stock valued at $2,619,000 after acquiring an additional 1,713 shares in the last quarter. First Trust Advisors LP grew its holdings in Boeing by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 536,095 shares of the aircraft producer’s stock worth $99,740,000 after acquiring an additional 7,697 shares in the last quarter. BNP Paribas grew its holdings in Boeing by 307.4% during the 3rd quarter. BNP Paribas now owns 4,766 shares of the aircraft producer’s stock worth $887,000 after acquiring an additional 3,596 shares in the last quarter. Fort Sheridan Advisors LLC grew its holdings in Boeing by 5.5% during the 3rd quarter. Fort Sheridan Advisors LLC now owns 35,241 shares of the aircraft producer’s stock worth $6,557,000 after acquiring an additional 1,836 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Boeing by 83.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 372 shares of the aircraft producer’s stock worth $69,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of several recent research reports. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a report on Tuesday, August 11th. Wolfe Research upgraded Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. DZ Bank reissued a “buy” rating on shares of Boeing in a research report on Thursday, August 6th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price objective on shares of Boeing in a research note on Monday, October 26th. Finally, Argus raised Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $247.88.

Boeing Stock Down 1.7%

BA traded down $3.01 during trading hours on Thursday, reaching $171.53. 6,009,086 shares of the stock traded hands, compared to its average volume of 7,167,102. Boeing has a fifty-two week low of $165.01 and a fifty-two week high of $254.35. The company has a market cap of $135.93 billion, a price-to-earnings ratio of 18.66 and a beta of 1.34. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The firm’s fifty day simple moving average is $190.33 and its two-hundred day simple moving average is $214.25.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The firm had revenue of $24.19 billion during the quarter, compared to analyst estimates of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($7.47) EPS. As a group, analysts forecast that Boeing will post -1.84 earnings per share for the current fiscal year.

About Boeing

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.