Boeing (NYSE:BA) Shares Up 0.9% – Here’s What Happened

Shares of The Boeing Company (NYSE:BA) were up 0.9% on Monday . The company traded as high as $158.76 and last traded at $156.38. Approximately 2,609,301 shares were traded during trading, a decline of 67% from the average daily volume of 7,995,024 shares. The stock had previously closed at $155.00.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Finally, Bank of America increased their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Boeing Trading Down 1.7 %

The company has a fifty day simple moving average of $164.24 and a two-hundred day simple moving average of $174.59. The company has a market cap of $93.35 billion, a PE ratio of -43.56 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the business posted ($0.82) earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -4.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Boeing by 2.5% in the first 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 last quarter. Newport Trust Company LLC lifted its holdings in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 1,884,850 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares during the period. Finally, Jennison Associates LLC grew its stake in Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.