The Boeing Company (NYSE:BA) Short Interest Down 9.0% in August

The Boeing Company (NYSE:BA) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 12,340,000 shares, a drop of 9.0% from the August 15th total of 13,560,000 shares. Based on an average trading volume of 6,190,000 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently added to or reduced their stakes in BA. Vanguard Group Inc. raised its position in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Newport Trust Company LLC boosted its position in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BA. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $119.00 target price (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Bank of America boosted their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Down 0.8 %

NYSE BA traded down $1.22 during trading hours on Wednesday, hitting $155.17. The company’s stock had a trading volume of 7,696,949 shares, compared to its average volume of 7,933,239. Boeing has a twelve month low of $154.02 and a twelve month high of $267.54. The firm has a market capitalization of $95.26 billion, a P/E ratio of -43.71 and a beta of 1.57. The stock has a fifty day moving average of $172.38 and a 200 day moving average of $178.23.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the business posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts predict that Boeing will post -4.26 earnings per share for the current year.

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.