Boeing (NYSE:BA) Trading 0.7% Higher – Should You Buy?

The Boeing Company (NYSE:BA)’s stock price rose 0.7% on Tuesday . The stock traded as high as $183.70 and last traded at $182.22. Approximately 2,453,909 shares were traded during trading, a decline of 72% from the average daily volume of 8,663,530 shares. The stock had previously closed at $180.90.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday, March 17th. StockNews.com raised Boeing to a “sell” rating in a research report on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Stock Up 0.4 %

The stock has a market capitalization of $134.40 billion, a P/E ratio of -9.78 and a beta of 1.53. The company has a fifty day simple moving average of $173.74 and a two-hundred day simple moving average of $164.00.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 period in the prior year, the company earned ($0.47) EPS. As a group, equities analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Boeing

Large investors have recently modified their holdings of the business. Prostatis Group LLC boosted its position in Boeing by 23.3% during the fourth quarter. Prostatis Group LLC now owns 8,096 shares of the aircraft producer’s stock worth $1,433,000 after purchasing an additional 1,531 shares during the period. Chancellor Financial Group WB LP bought a new position in Boeing in the fourth quarter valued at about $313,000. Objective Capital Management LLC bought a new stake in shares of Boeing during the fourth quarter worth $219,000. 111 Capital bought a new position in Boeing in the fourth quarter valued at about $681,000. Finally, Thoma Capital Management LLC bought a new stake in Boeing during the 4th quarter worth approximately $508,000. 64.82% of the stock is currently 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.