Boeing (NYSE:BA) Shares Up 0.6% – Here’s What Happened

The Boeing Company (NYSE:BA) shares shot up 0.6% during mid-day trading on Tuesday . The company traded as high as $179.35 and last traded at $177.69. 2,709,406 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 9,328,779 shares. The stock had previously closed at $176.55.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Down 0.0 %

The stock has a market capitalization of $109.09 billion, a price-to-earnings ratio of -13.68 and a beta of 1.56. The firm has a 50-day moving average of $157.72 and a two-hundred day moving average of $165.44.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates 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. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned ($3.26) EPS. As a group, sell-side analysts predict that The Boeing Company will post -16.18 EPS for the current year.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of BA. Principal Financial Group Inc. grew its stake in shares of Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares in the last quarter. Syntax Research Inc. grew its position in Boeing by 18.4% in the third quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock worth $716,000 after acquiring an additional 730 shares in the last quarter. Denver PWM LLC increased its stake in shares of Boeing by 728.9% during the 3rd quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after purchasing an additional 4,825 shares during the last quarter. Inspire Trust Co. N.A. raised its holdings in shares of Boeing by 81.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock valued at $1,596,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Boeing by 1,296.3% in the 3rd 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 during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.