Boeing (NYSE:BA) Stock Price Up 0.9% – Here’s Why

The Boeing Company (NYSE:BA)’s share price traded up 0.9% on Thursday . The company traded as high as $176.54 and last traded at $176.39. 1,418,901 shares were traded during mid-day trading, a decline of 81% from the average session volume of 7,472,984 shares. The stock had previously closed at $174.80.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. TD Cowen lowered their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Up 1.9 %

The business’s 50-day moving average price is $164.90 and its 200 day moving average price is $164.53. The company has a market capitalization of $110.14 billion, a P/E ratio of -13.80 and a beta of 1.52.

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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business earned ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -16.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.