Boeing (NYSE:BA) Shares Up 0.4% – Still a Buy?

The Boeing Company (NYSE:BA) shot up 0.4% during trading on Monday . The company traded as high as $177.91 and last traded at $177.26. 2,583,971 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 8,444,401 shares. The stock had previously closed at $176.52.

Analyst Ratings Changes

A number of brokerages recently commented on BA. Robert W. Baird dropped their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Benchmark reissued a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Boeing Trading Down 0.3 %

The company has a fifty day simple moving average of $169.50 and a 200-day simple moving average of $164.05. The company has a market capitalization of $108.77 billion, a PE ratio of -9.60 and a beta of 1.52.

Boeing (NYSE:BA) last issued its 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 prior year, the firm posted ($0.47) earnings per share. On average, equities analysts predict that The Boeing Company will post -2.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently modified their holdings of BA. Van ECK Associates Corp lifted its stake in Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Boeing by 289.8% during the 3rd 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 in the last quarter. Franklin Resources Inc. lifted its stake in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares in the last quarter. State Street Corp raised its position in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Boeing by 9.9% in the 3rd 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 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.