Boeing (NYSE:BA) Stock Price Up 2.4% – Here’s Why

The Boeing Company (NYSE:BA)’s stock price was up 2.4% during mid-day trading on Monday . The stock traded as high as $184.40 and last traded at $182.45. Approximately 4,090,758 shares were traded during trading, a decline of 53% from the average daily volume of 8,642,350 shares. The stock had previously closed at $178.11.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BA. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Monday. StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Wells Fargo & Company increased their price target on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research report on Monday, March 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Stock Performance

The business’s fifty day moving average price is $172.98 and its two-hundred day moving average price is $163.59. The stock has a market capitalization of $136.08 billion, a P/E ratio of -9.90 and a beta of 1.53.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the company earned ($0.47) earnings per share. As a group, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

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

Institutional Investors Weigh In On Boeing

Large investors have recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in Boeing during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing during the 4th quarter worth about $28,000. Finally, HighMark Wealth Management LLC raised its holdings in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after acquiring an additional 90 shares during 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.