Boeing (NYSE:BA) Shares Up 2.4% – Should You Buy?

The Boeing Company (NYSE:BA)’s share price rose 2.4% during mid-day trading on Monday . The company traded as high as $184.40 and last traded at $182.45. Approximately 4,090,758 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 8,642,350 shares. The stock had previously closed at $178.11.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday. Susquehanna increased their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Price Performance

The firm has a market cap of $136.08 billion, a P/E ratio of -9.90 and a beta of 1.53. The stock’s 50-day moving average price is $172.98 and its 200 day moving average price is $163.59.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the company earned ($0.47) EPS. As a group, analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the last quarter. State Street Corp raised its position in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Northern Trust Corp lifted its stake in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after purchasing an additional 164,042 shares during the period. Institutional investors own 64.82% of the company’s stock.

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.