Boeing (NYSE:BA) Shares Up 0.2% After Earnings Beat

The Boeing Company (NYSE:BA) shares rose 0.2% on Thursday following a stronger than expected earnings report. The company traded as high as $172.80 and last traded at $172.69. Approximately 3,117,026 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 9,088,232 shares. The stock had previously closed at $172.37.

The aircraft producer reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Boeing from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Securities restated a “buy” rating and issued a $180.00 target price on shares of Boeing in a report on Thursday. UBS Group upped their price target on shares of Boeing from $190.00 to $207.00 and gave the company a “buy” rating in a report on Thursday. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. boosted their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.45.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently bought and sold shares of BA. JNBA Financial Advisors lifted its holdings in shares of Boeing by 29.2% during the 1st quarter. JNBA Financial Advisors now owns 620 shares of the aircraft producer’s stock valued at $106,000 after purchasing an additional 140 shares during the last quarter. Mather Group LLC. raised its stake in Boeing by 60.6% in the first quarter. Mather Group LLC. now owns 4,561 shares of the aircraft producer’s stock valued at $778,000 after buying an additional 1,721 shares during the last quarter. Smith Salley Wealth Management acquired a new stake in Boeing in the first quarter worth about $207,000. Beaton Management Co. Inc. grew its stake in shares of Boeing by 0.9% during the first quarter. Beaton Management Co. Inc. now owns 8,284 shares of the aircraft producer’s stock worth $1,413,000 after acquiring an additional 75 shares during the last quarter. Finally, G&S Capital LLC acquired a new position in shares of Boeing during the first quarter valued at about $1,141,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 0.9 %

The company’s 50-day moving average is $164.87 and its 200 day moving average is $164.59. The stock has a market capitalization of $133.46 billion, a PE ratio of -9.71 and a beta of 1.24.

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.