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

The Boeing Company (NYSE:BA) traded up 0.9% during trading on Wednesday . The company traded as high as $147.30 and last traded at $146.84. 2,263,878 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 9,153,700 shares. The stock had previously closed at $145.60.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BA shares. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Down 1.5 %

The company’s 50-day moving average is $151.85 and its 200-day moving average is $168.62. The stock has a market capitalization of $88.92 billion, a price-to-earnings ratio of -11.15 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -16.2 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. RPg Family Wealth Advisory LLC purchased a new position in Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the 2nd quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.