Boeing (NYSE:BA) Trading Up 1.2% – Here’s Why

Shares of The Boeing Company (NYSE:BA) were up 1.2% on Tuesday . The stock traded as high as $208.43 and last traded at $207.71. Approximately 1,919,792 shares traded hands during trading, a decline of 79% from the average daily volume of 9,182,941 shares. The stock had previously closed at $205.25.

Analysts Set New Price Targets

BA has been the subject of a number of recent analyst reports. Benchmark dropped their price target on shares of Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Morgan Stanley reaffirmed a “positive” rating on shares of Boeing in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, April 23rd. Susquehanna reaffirmed a “positive” rating and issued a $240.00 price objective (up from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. Finally, Citigroup lifted their price target on Boeing from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.35.

Boeing Stock Up 1.3%

The company has a fifty day simple moving average of $172.73 and a 200-day simple moving average of $169.14. The firm has a market cap of $156.81 billion, a P/E ratio of -11.32 and a beta of 1.41.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period last year, the business posted ($1.13) EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction 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 completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,903 shares of company stock valued at $2,082,169 in the last quarter. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently made changes to their positions in the stock. Monetary Management Group Inc. boosted its position in shares of Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Anchor Investment Management LLC increased its stake in Boeing by 0.9% in the 1st quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer’s stock valued at $923,000 after buying an additional 50 shares during the last quarter. Heritage Financial Services LLC boosted its holdings in shares of Boeing by 4.2% in the 1st quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer’s stock valued at $216,000 after buying an additional 51 shares during the last quarter. Wood Tarver Financial Group LLC increased its holdings in Boeing by 14.3% during the first quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock worth $75,000 after buying an additional 55 shares during the last quarter. Finally, Keynote Financial Services LLC raised its position in Boeing by 3.8% during the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after acquiring an additional 57 shares in the last quarter. 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.