Boeing Sees Unusually Large Options Volume (NYSE:BA)

The Boeing Company (NYSE:BA) was the target of some unusual options trading on Tuesday. Traders bought 158,103 call options on the stock. This is an increase of 34% compared to the average daily volume of 118,359 call options.

Boeing Stock Performance

Shares of NYSE:BA traded down $4.07 during mid-day trading on Tuesday, hitting $151.00. 22,857,861 shares of the company traded hands, compared to its average volume of 8,888,812. The firm’s 50 day simple moving average is $157.09 and its 200 day simple moving average is $170.90. The firm has a market cap of $93.35 billion, a P/E ratio of -11.86 and a beta of 1.57. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’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 earned ($3.26) EPS. Equities research analysts expect that Boeing will post -16.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. lowered their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Hold” and a consensus price target of $190.37.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazari Capital Management Inc. increased its stake in shares of Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after buying an additional 8,309 shares during the last quarter. Czech National Bank increased its position in shares of Boeing by 8.4% in the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after purchasing an additional 9,281 shares during the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of Boeing in the 3rd quarter valued at about $11,237,000. Sanctuary Advisors LLC acquired a new position in Boeing in the second quarter worth about $21,405,000. Finally, Van ECK Associates Corp increased its holdings in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares during the last quarter. 64.82% of the stock is 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.