Boeing (NYSE:BA) Shares Up 5.6% – Here’s Why

The Boeing Company (NYSE:BA) shares shot up 5.6% on Wednesday . The stock traded as high as $171.00 and last traded at $170.66. 2,587,980 shares were traded during trading, a decline of 66% from the average session volume of 7,635,709 shares. The stock had previously closed at $161.57.

Analysts Set New Price Targets

A number of research firms have recently commented on BA. Susquehanna increased their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Citigroup increased their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Wells Fargo & Company raised their price objective on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Stock Performance

The firm has a market cap of $129.13 billion, a P/E ratio of -9.40 and a beta of 1.53. The stock’s 50 day simple moving average is $172.83 and its 200 day simple moving average is $163.41.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the firm earned ($0.47) EPS. As a group, analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Boeing

Hedge funds have recently bought and sold shares of the company. Chancellor Financial Group WB LP purchased a new position in shares of Boeing in the 4th quarter worth about $313,000. Objective Capital Management LLC purchased a new position in shares of Boeing in the 4th quarter worth about $219,000. 111 Capital purchased a new position in shares of Boeing in the 4th quarter worth about $681,000. Thoma Capital Management LLC purchased a new position in shares of Boeing in the 4th quarter worth about $508,000. Finally, Members Wealth LLC purchased a new position in shares of Boeing in the 4th quarter worth about $212,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.