Boeing (NYSE:BA) Trading Up 0.5% – What’s Next?

The Boeing Company (NYSE:BA) shot up 0.5% on Thursday . The company traded as high as $141.55 and last traded at $140.71. 3,408,426 shares changed hands during trading, a decline of 63% from the average session volume of 9,105,095 shares. The stock had previously closed at $139.97.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

The firm has a market cap of $86.66 billion, a price-to-earnings ratio of -10.87 and a beta of 1.57. The firm’s fifty day moving average is $153.20 and its two-hundred day moving average is $169.44.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) earnings per share. On average, equities analysts forecast that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Large investors have recently made changes to their positions in the business. Newport Trust Company LLC boosted its holdings in Boeing by 1.2% during the second 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 in the last quarter. State Street Corp lifted its position in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 acquiring an additional 106,513 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the period. Institutional investors own 64.82% of the company’s stock.

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.