Boeing (NYSE:BA) Shares Up 4.6% – Time to Buy?

The Boeing Company (NYSE:BA) shot up 4.6% during trading on Friday . The company traded as high as $175.77 and last traded at $180.86. 3,326,032 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 8,568,057 shares. The stock had previously closed at $172.83.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group boosted their price objective on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Susquehanna boosted their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. upped their price target on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.68.

Boeing Price Performance

The company has a market capitalization of $133.75 billion, a P/E ratio of -9.73 and a beta of 1.53. The firm has a fifty day moving average price of $172.98 and a 200-day moving average price of $163.59.

Boeing (NYSE:BA) last released 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 prior year, the company earned ($0.47) earnings per share. On average, research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently bought and sold shares of the company. Keynote Financial Services LLC grew its holdings in Boeing by 3.8% during the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock valued at $273,000 after purchasing an additional 57 shares during the period. Chaney Capital Management Inc. lifted its position in shares of Boeing by 2.1% during the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after acquiring an additional 58 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of Boeing by 0.6% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after acquiring an additional 59 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Boeing by 12.0% during the fourth quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after acquiring an additional 60 shares in the last quarter. Finally, Trek Financial LLC lifted its position in shares of Boeing by 2.7% during the fourth quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after acquiring an additional 60 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

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.