Short Interest in The Boeing Company (NYSE:BA) Expands By 13.1%

The Boeing Company (NYSE:BA) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 14,420,000 shares, an increase of 13.1% from the September 30th total of 12,750,000 shares. Based on an average trading volume of 7,930,000 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

BA has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group reduced their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $190.42.

Institutional Trading of Boeing

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC boosted its position in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Jennison Associates LLC boosted its position in Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after acquiring an additional 67,474 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 3.2 %

Shares of BA traded down $5.00 during trading hours on Thursday, hitting $149.29. The company had a trading volume of 29,037,759 shares, compared to its average volume of 8,766,683. The firm has a market cap of $91.65 billion, a P/E ratio of -42.05 and a beta of 1.57. The stock’s 50 day moving average price is $157.86 and its 200 day moving average price is $171.09. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS 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 analysts’ expectations of $17.81 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) EPS. On average, research analysts expect that Boeing will post -5.35 EPS for the current fiscal year.

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.