Boeing (NYSE:BA) Trading 4.6% Higher – Still a Buy?

Shares of The Boeing Company (NYSE:BA) shot up 4.6% during trading on Tuesday . The company traded as high as $188.48 and last traded at $183.24. 10,372,844 shares were traded during mid-day trading, an increase of 30% from the average session volume of 7,979,722 shares. The stock had previously closed at $175.16.

Analysts Set New Price Targets

Several brokerages recently issued reports on BA. Morgan Stanley lowered their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Robert W. Baird reduced their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. UBS Group increased their price objective on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average price target of $195.00.

Boeing Stock Up 3.3 %

The business has a 50-day simple moving average of $168.24 and a 200-day simple moving average of $164.26. The stock has a market cap of $110.95 billion, a P/E ratio of -13.91 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the company posted ($0.47) EPS. On average, analysts predict that The Boeing Company will post -16.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC boosted its position in Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the last quarter. Jennison Associates LLC increased its position in Boeing by 9.9% in 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. Fisher Asset Management LLC raised its holdings in Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after purchasing an additional 277,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Boeing by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock valued at $486,018,000 after purchasing an additional 48,637 shares during the period. 64.82% of the stock is owned by 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.