Boeing (NYSE:BA) Trading Up 1.5% – Here’s Why

The Boeing Company (NYSE:BA)’s stock price was up 1.5% on Tuesday . The stock traded as high as $180.43 and last traded at $180.41. Approximately 1,729,188 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 9,333,236 shares. The stock had previously closed at $177.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group reduced their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. DZ Bank downgraded 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. Wells Fargo & Company reduced their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boeing presently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

The stock has a fifty day moving average of $155.68 and a 200 day moving average of $165.64. The firm has a market capitalization of $110.87 billion, a P/E ratio of -13.90 and a beta of 1.56.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates 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. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned ($3.26) EPS. Equities analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Syntax Research Inc. grew its stake in Boeing by 18.4% in the 3rd quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock valued at $716,000 after buying an additional 730 shares in the last quarter. Denver PWM LLC raised its holdings in Boeing by 728.9% during the 3rd quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock valued at $834,000 after acquiring an additional 4,825 shares during the period. Inspire Trust Co. N.A. lifted its position in shares of Boeing by 81.0% during the third quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock worth $1,596,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. Hedge funds and other 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.