Boeing (NYSE:BA) Trading Up 1% – What’s Next?

Shares of The Boeing Company (NYSE:BA) traded up 1% on Monday . The company traded as high as $153.28 and last traded at $150.79. 3,399,351 shares traded hands during trading, a decline of 63% from the average session volume of 9,171,703 shares. The stock had previously closed at $149.29.

Analyst Ratings Changes

BA has been the topic of several recent research reports. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Performance

The stock has a 50 day moving average price of $151.48 and a 200 day moving average price of $167.77. The company has a market capitalization of $94.23 billion, a P/E ratio of -11.82 and a beta of 1.57.

Boeing (NYSE:BA) last announced 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the company posted ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -16.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. 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. Wulff Hansen & CO. raised its stake in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, State Street Corp boosted its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.