Short Interest in The Boeing Company (NYSE:BA) Expands By 13.1%

The Boeing Company (NYSE:BA) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 14,420,000 shares, a growth of 13.1% from the September 30th total of 12,750,000 shares. Based on an average daily volume of 7,930,000 shares, the short-interest ratio is currently 1.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Boeing by 2.5% in 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 period. Newport Trust Company LLC boosted its holdings in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the period. Jennison Associates LLC boosted its holdings in Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock traded down $5.00 during mid-day trading on Thursday, reaching $149.29. 29,037,759 shares of the company’s stock traded hands, compared to its average volume of 8,766,683. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54. The firm has a 50 day moving average price of $157.86 and a two-hundred day moving average price of $171.09. The firm has a market capitalization of $91.65 billion, a PE ratio of -42.05 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm posted ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts expect that Boeing will post -5.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on BA. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $190.42.

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.