Boeing (NYSE:BA) Trading Up 2.7% – Still a Buy?

The Boeing Company (NYSE:BA)’s share price traded up 2.7% during mid-day trading on Tuesday . The company traded as high as $175.68 and last traded at $175.79. 2,551,030 shares were traded during trading, a decline of 67% from the average session volume of 7,637,667 shares. The stock had previously closed at $171.09.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BA. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Morgan Stanley decreased their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup dropped their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 2.0 %

The firm has a market cap of $110.25 billion, a price-to-earnings ratio of -13.82 and a beta of 1.52. The stock’s 50-day moving average price is $164.90 and its 200 day moving average price is $164.53.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.26) earnings per share. On average, research analysts predict that The Boeing Company will post -16.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BA. AdvisorNet Financial Inc boosted its position in Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after buying an additional 710 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Boeing by 9.9% in 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 purchasing an additional 602,143 shares during 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.