Boeing (NYSE:BA) Shares Up 3.5% – Here’s What Happened

The Boeing Company (NYSE:BA) shares rose 3.5% during mid-day trading on Thursday. The stock traded as high as $194.56 and last traded at $192.6460. 13,452,994 shares traded hands during trading, an increase of 98% from the average session volume of 6,802,563 shares. The stock had previously closed at $186.05.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: FAA clears 737 MAX software issue. The Federal Aviation Administration concluded that a software glitch affecting some 737 MAX flight computers does not pose a flight-safety concern. The finding removes a potential obstacle to certification of the larger MAX 10, helping Boeing advance a delayed commercial aircraft program. FAA finds Boeing 737 MAX software glitch does not pose safety issue
• Positive Sentiment: $20 billion F/A-XX fighter award strengthens Boeing’s defense outlook. Winning the U.S. Navy’s sixth-generation fighter program gives Boeing a second major next-generation fighter platform after its Air Force F-47 win. Investors see potential for decades of defense revenue, shared technology and production efficiencies. Boeing wins $20B Navy fighter contract
• Positive Sentiment: Engineers ratify a four-year contract, averting a strike. The agreement with roughly 17,000 engineers and technical workers reduces the risk of disruptions to MAX 10 and 777X certification and aircraft-delivery efforts. Boeing white-collar workers approve contract
• Neutral Sentiment: The software anomaly was first identified by WestJet pilots during a 2024 validation flight. Although regulators deemed it safe, the episode highlights Boeing’s continuing certification scrutiny. WestJet first told Boeing about 737 MAX software glitch
• Negative Sentiment: The F/A-XX selection could face a protest from Northrop Grumman, while Boeing’s history of cost overruns and delays creates execution risk. The new labor deal also raises costs, including an immediate pay increase. Boeing wins Navy fighter contract amid protest risk

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cantor Fitzgerald downgraded Boeing to a “neutral” rating in a research note on Tuesday, August 11th. Citigroup cut shares of Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Jefferies Financial Group lowered their price objective on shares of Boeing from $295.00 to $265.00 and set a “buy” rating for the company in a research report on Monday, September 21st. William Blair restated an “outperform” rating on shares of Boeing in a research note on Wednesday. Finally, Wolfe Research raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $270.95.

Boeing Trading Up 0.5%

The business’s 50 day moving average price is $212.44 and its two-hundred day moving average price is $216.40. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $152.78 billion, a price-to-earnings ratio of 83.68 and a beta of 1.26.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.24) EPS. On average, equities analysts predict that The Boeing Company will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC purchased a new position in Boeing during the second quarter worth about $911,878,000. Bank of New York Mellon Corp bought a new position in Boeing in the 2nd quarter worth about $747,763,000. Legal & General Group Plc purchased a new stake in shares of Boeing in the 2nd quarter valued at about $710,816,000. Deutsche Bank AG purchased a new stake in shares of Boeing in the 2nd quarter valued at about $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Boeing during the 2nd quarter valued at about $441,997,000. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, spacecraft and related systems. Its commercial portfolio includes the 737, 787 Dreamliner and 777 families, as well as the 777X program. Boeing sells aircraft to airlines, cargo operators and leasing companies around the world.

Through its defense and space operations, Boeing provides products and services for the U.S. government, allied governments and other institutional customers.