Boeing (NYSE:BA) Trading 1.3% Higher – Here’s What Happened

The Boeing Company (NYSE:BA)’s share price was up 1.3% on Monday . The stock traded as high as $171.77 and last traded at $171.14. Approximately 9,537,359 shares changed hands during trading, an increase of 1% from the average daily volume of 9,471,018 shares. The stock had previously closed at $168.93.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BA shares. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Trading Up 1.3 %

The business has a fifty day simple moving average of $163.15 and a two-hundred day simple moving average of $164.61. The company has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) earnings per share. Equities analysts expect that The Boeing Company will post -16.43 EPS for the current year.

Institutional Trading of Boeing

Several institutional investors have recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in Boeing during the 4th quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter worth approximately $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing in the 3rd quarter valued at approximately $30,000. Planning Capital Management Corp raised its holdings in shares of Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 289 shares in the last quarter. Finally, Albion Financial Group UT lifted its position in shares of Boeing by 116.1% during the 4th quarter. Albion Financial Group UT now owns 296 shares of the aircraft producer’s stock worth $52,000 after purchasing an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.