Boeing (NYSE:BA) Shares Up 0.7% – Here’s Why

The Boeing Company (NYSE:BA) shares 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 mid-day trading, a decline of 72% from the average daily volume of 8,663,530 shares. The stock had previously closed at $180.90.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. Finally, UBS Group increased their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

Boeing Stock Up 1.1 %

The stock has a 50-day moving average of $173.19 and a 200 day moving average of $163.72. The stock has a market cap of $137.20 billion, a PE ratio of -10.00 and a beta of 1.53.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm earned ($0.47) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

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