Boeing (NYSE:BA) Trading Up 2.1% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price rose 2.1% during mid-day trading on Wednesday . The company traded as high as $144.09 and last traded at $142.38. Approximately 3,210,136 shares traded hands during trading, a decline of 64% from the average daily volume of 8,970,311 shares. The stock had previously closed at $139.39.

Analyst Ratings Changes

BA has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Melius raised Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. StockNews.com upgraded shares of Boeing to a “sell” rating in a research report on Saturday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Boeing Price Performance

The business’s 50-day simple moving average is $170.17 and its two-hundred day simple moving average is $163.90. The stock has a market capitalization of $116.11 billion, a price-to-earnings ratio of -8.44 and a beta of 1.24.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) earnings per share. As a group, sell-side analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of Boeing during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $27,000. American National Bank & Trust increased its stake in shares of Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 128 shares during the period. Fiduciary Advisors Inc. bought a new stake in Boeing during the fourth quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC boosted its stake in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.