Boeing (NYSE:BA) Trading Up 4.3% – What’s Next?

The Boeing Company (NYSE:BA) shares shot up 4.3% during trading on Monday . The company traded as high as $160.58 and last traded at $160.50. 3,849,560 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 9,126,140 shares. The stock had previously closed at $153.93.

Analyst Ratings Changes

Several brokerages recently weighed in on BA. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Finally, 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

The firm’s 50 day simple moving average is $151.69 and its 200-day simple moving average is $166.22. The company has a market cap of $101.51 billion, a price-to-earnings ratio of -12.73 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.26) earnings per share. As a group, sell-side analysts expect that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in BA. Denver PWM LLC increased its stake in shares of Boeing by 728.9% in the 3rd quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after acquiring an additional 4,825 shares during the last quarter. Inspire Trust Co. N.A. grew its holdings in shares of Boeing by 81.0% in the third 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 during the period. Franklin Resources Inc. increased its position in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. Tidal Investments LLC raised its stake in Boeing by 2.1% during the third quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer’s stock worth $5,812,000 after purchasing an additional 804 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Boeing by 290.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer’s stock valued at $2,593,000 after purchasing an additional 12,680 shares during the last quarter. Institutional investors and hedge funds 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.