Boeing (NYSE:BA) Trading Up 4.9% – Should You Buy?

The Boeing Company (NYSE:BA)’s stock price was up 4.9% during mid-day trading on Tuesday . The stock traded as high as $165.35 and last traded at $164.71. Approximately 5,142,189 shares were traded during trading, a decline of 44% from the average daily volume of 9,149,616 shares. The stock had previously closed at $157.04.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. UBS Group cut their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Finally, DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned 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 has a consensus rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

The business has a 50 day moving average price of $151.69 and a 200 day moving average price of $166.22. The firm has a market capitalization of $102.58 billion, a P/E ratio of -12.73 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company earned ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -16.18 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in the company. Newport Trust Company LLC increased its holdings in Boeing by 1.2% in 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 during the period. State Street Corp increased its stake in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the period. Geode Capital Management LLC raised its position in Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Boeing by 1.4% during 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 purchasing an additional 106,513 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.