Boeing (NYSE:BA) Trading 1% Higher

The Boeing Company (NYSE:BA)’s share price shot up 1% on Thursday . The stock traded as high as $171.96 and last traded at $171.95. 1,683,436 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 9,722,462 shares. The stock had previously closed at $170.21.

Analyst Ratings Changes

Several brokerages recently weighed in on BA. Stifel Nicolaus reduced their price objective on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Morgan Stanley cut their price target on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price target on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. TD Cowen cut their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 25th. Finally, Royal Bank of Canada cut their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $229.35.

Boeing Price Performance

The stock’s fifty day moving average is $190.29 and its two-hundred day moving average is $207.16.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.75) EPS. Analysts expect that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Moneta Group Investment Advisors LLC increased its stake in Boeing by 109,667.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after buying an additional 16,041,103 shares during the last quarter. Capital Research Global Investors grew its position in shares of Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the period. Jennison Associates LLC bought a new position in shares of Boeing during the 4th quarter valued at approximately $960,397,000. Wellington Management Group LLP grew its position in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Hedge funds and other 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.