Boeing (NYSE:BA) Shares Up 0.9% – Still a Buy?

The Boeing Company (NYSE:BA)’s share price rose 0.9% on Wednesday . The stock traded as high as $147.30 and last traded at $146.84. Approximately 2,263,878 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 9,153,700 shares. The stock had previously closed at $145.60.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BA shares. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Price Performance

The stock’s 50 day moving average is $152.53 and its 200-day moving average is $168.95. The company has a market capitalization of $90.48 billion, a P/E ratio of -11.38 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.26) EPS. On average, equities research analysts anticipate that The Boeing Company will post -16.2 EPS for the current year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Newport Trust Company LLC increased 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 buying an additional 388,633 shares in the last quarter. State Street Corp grew its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after acquiring an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring 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.