Boeing (NYSE:BA) Trading 1.2% Higher – Should You Buy?

Shares of The Boeing Company (NYSE:BA) were up 1.2% during trading on Friday . The company traded as high as $171.76 and last traded at $170.97. Approximately 2,370,607 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 7,440,130 shares. The stock had previously closed at $168.93.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Susquehanna cut their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

The firm has a market capitalization of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The firm’s 50 day moving average price is $163.15 and its 200-day moving average price is $164.89.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the prior year, the company earned ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that The Boeing Company will post -16.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. AdvisorNet Financial Inc raised its position in shares of Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Jennison Associates LLC increased its position in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Finally, World Investment Advisors LLC raised its stake in Boeing by 243.4% in the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 3,814 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.