Short Interest in The Boeing Company (NYSE:BA) Drops By 7.8%

The Boeing Company (NYSE:BA) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 20,790,000 shares, a decline of 7.8% from the November 15th total of 22,550,000 shares. Based on an average daily trading volume, of 12,700,000 shares, the days-to-cover ratio is presently 1.6 days.

Boeing Stock Up 2.3 %

BA traded up $3.91 during mid-day trading on Monday, reaching $173.56. 5,903,457 shares of the company traded hands, compared to its average volume of 9,214,219. The stock has a market capitalization of $107.29 billion, a P/E ratio of -13.42 and a beta of 1.56. Boeing has a 52-week low of $137.03 and a 52-week high of $267.54. The company’s fifty day moving average price is $152.79 and its 200-day moving average price is $166.02.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Boeing will post -16.18 earnings per share for the current fiscal year.

Institutional Trading of Boeing

Several hedge funds have recently bought and sold shares of the stock. Lantz Financial LLC increased its stake in Boeing by 109.7% in the 2nd quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock worth $491,000 after buying an additional 1,410 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Boeing by 51.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,428 shares of the aircraft producer’s stock worth $442,000 after purchasing an additional 820 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Boeing during the 2nd quarter valued at $34,000. Finally, Summit Global Investments lifted its position in Boeing by 7.1% in the second quarter. Summit Global Investments now owns 4,550 shares of the aircraft producer’s stock worth $828,000 after buying an additional 300 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Susquehanna decreased their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $190.11.

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.