Boeing (NYSE:BA) Stock Price Up 0.9% – Should You Buy?

The Boeing Company (NYSE:BA)’s share price shot up 0.9% during trading on Wednesday . The stock traded as high as $180.95 and last traded at $179.34. 4,316,969 shares traded hands during trading, a decline of 54% from the average session volume of 9,345,203 shares. The stock had previously closed at $177.69.

Analyst Upgrades and Downgrades

BA has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. 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 research report on Monday, September 23rd. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Citigroup decreased their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 0.6 %

The stock has a market cap of $111.51 billion, a P/E ratio of -13.98 and a beta of 1.56. The company has a 50 day simple moving average of $157.21 and a 200 day simple moving average of $165.76.

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

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its stake in 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 purchasing an additional 38,300 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the last quarter. Jennison Associates LLC raised its position in 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 acquiring an additional 602,143 shares in the last quarter. World Investment Advisors LLC lifted its stake in Boeing by 243.4% in the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 3,814 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Boeing in the 3rd quarter valued at about $11,679,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.