Boeing (NYSE:BA) Trading 4.6% Higher – What’s Next?

Shares of The Boeing Company (NYSE:BA) rose 4.6% on Tuesday . The company traded as high as $188.48 and last traded at $183.24. Approximately 10,372,844 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 7,979,722 shares. The stock had previously closed at $175.16.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BA. JPMorgan Chase & Co. dropped their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company dropped their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Susquehanna dropped their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.11.

Boeing Stock Up 1.5 %

The business has a 50 day moving average of $167.04 and a 200 day moving average of $164.23. The company has a market capitalization of $109.91 billion, a P/E ratio of -13.78 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the firm posted ($0.47) earnings per share. On average, research analysts anticipate that The Boeing Company will post -16.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC lifted its position in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. Franklin Resources Inc. raised its stake in shares of Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. State Street Corp raised its stake in shares of Boeing by 2.3% during 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. Finally, Jennison Associates LLC raised its stake in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.