Boeing (NYSE:BA) Trading 0.5% Higher – Here’s Why

The Boeing Company (NYSE:BA)’s share price traded up 0.5% during mid-day trading on Monday . The company traded as high as $170.93 and last traded at $170.52. 3,334,117 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 9,204,080 shares. The stock had previously closed at $169.65.

Analysts Set New Price Targets

A number of equities research analysts have commented on BA shares. Susquehanna dropped their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. 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 research note on Monday, November 25th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Jefferies Financial Group cut their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Down 0.2 %

The company has a fifty day moving average of $153.51 and a two-hundred day moving average of $165.99. The stock has a market capitalization of $106.71 billion, a price-to-earnings ratio of -13.38 and a beta of 1.56.

Boeing (NYSE:BA) last issued its earnings results 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 analyst estimates of $17.81 billion. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted ($3.26) earnings per share. Equities analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Rockefeller Capital Management L.P. boosted its position in Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares in the last quarter. World Investment Advisors LLC grew its stake in Boeing by 243.4% in the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 3,814 shares during the last quarter. ING Groep NV purchased a new position in Boeing during the 3rd quarter valued at about $11,679,000. Finally, Lazari Capital Management Inc. raised its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after acquiring an additional 8,309 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.