The Boeing Company (NYSE:BA – Get Free Report)’s share price traded up 4.6% during mid-day trading on Tuesday . The stock 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.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Morgan Stanley reduced their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird reduced their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.11.
View Our Latest Report on Boeing
Boeing Trading Up 1.5 %
Boeing (NYSE:BA – Get Free Report) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the firm earned ($0.47) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -16.39 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its stake in Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the period. Carnegie Investment Counsel raised its holdings in shares of Boeing by 175.6% during the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 2,943 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Boeing by 8.8% in the 3rd 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 during the period. Principal Financial Group Inc. increased its stake in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares during the period. Finally, Jennison Associates LLC increased its stake in 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 purchasing an additional 602,143 shares during the period. 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.
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