Boeing Target of Unusually Large Options Trading (NYSE:BA)

The Boeing Company (NYSE:BA) was the recipient of some unusual options trading on Tuesday. Investors acquired 169,467 call options on the stock. This represents an increase of approximately 33% compared to the average daily volume of 127,615 call options.

Insider Activity at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president directly owned 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president owned 42,513 shares in the company, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently added to or reduced their stakes in the company. FLC Capital Advisors purchased a new position in Boeing in the second quarter valued at about $224,000. Stephens Inc. AR increased its stake in shares of Boeing by 19.7% during the 2nd quarter. Stephens Inc. AR now owns 56,100 shares of the aircraft producer’s stock worth $11,755,000 after purchasing an additional 9,243 shares in the last quarter. LMG Wealth Partners LLC purchased a new stake in Boeing in the 2nd quarter worth approximately $230,000. Uhlmann Price Securities LLC grew its stake in Boeing by 4.4% in the 2nd quarter. Uhlmann Price Securities LLC now owns 2,360 shares of the aircraft producer’s stock worth $494,000 after acquiring an additional 100 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in Boeing by 6.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 11,132 shares of the aircraft producer’s stock worth $2,332,000 after acquiring an additional 630 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BA shares. Citigroup restated a “buy” rating on shares of Boeing in a report on Monday. JPMorgan Chase & Co. boosted their target price on Boeing from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. UBS Group boosted their target price on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Cowen reaffirmed a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Finally, Barclays upped their price objective on Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.59.

Boeing Stock Performance

Shares of BA stock opened at $226.45 on Wednesday. The stock’s 50-day moving average is $214.01 and its two-hundred day moving average is $187.68. The firm has a market cap of $170.74 billion, a price-to-earnings ratio of -12.64 and a beta of 1.41. Boeing has a 1 year low of $128.88 and a 1 year high of $242.69.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period last year, the business earned ($2.90) EPS. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, research analysts predict that Boeing will post -2.58 EPS for the current year.

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.