Boeing (NYSE:BA) Trading 1.2% Higher – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price rose 1.2% during trading on Tuesday . The stock traded as high as $175.02 and last traded at $172.90. Approximately 2,337,119 shares changed hands during trading, a decline of 74% from the average daily volume of 9,006,966 shares. The stock had previously closed at $170.78.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. reduced their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, TD Cowen lowered their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

The company has a market capitalization of $107.01 billion, a P/E ratio of -13.42 and a beta of 1.52. The business’s fifty day simple moving average is $159.83 and its 200-day simple moving average is $165.30.

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

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing during the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing during the second quarter valued at approximately $33,000. Strategic Financial Concepts LLC bought a new position in Boeing in the second quarter worth approximately $41,000. Finally, Planning Capital Management Corp increased its holdings in Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 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.