Boeing (NYSE:BA) Shares Up 0.7% – What’s Next?

The Boeing Company (NYSE:BA) rose 0.7% during mid-day trading on Tuesday . The company traded as high as $183.70 and last traded at $182.22. Approximately 2,453,909 shares traded hands during trading, a decline of 72% from the average daily volume of 8,663,530 shares. The stock had previously closed at $180.90.

Analyst Upgrades and Downgrades

A number of research firms have commented on BA. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. UBS Group lifted their target price on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Susquehanna upped their price target on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

Boeing Price Performance

The stock has a 50 day simple moving average of $173.19 and a two-hundred day simple moving average of $163.72. The company has a market capitalization of $137.20 billion, a price-to-earnings ratio of -10.00 and a beta of 1.53.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the firm posted ($0.47) earnings per share. Equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently made changes to their positions in BA. Sierra Ocean LLC purchased a new position in Boeing during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing in the fourth quarter valued at about $28,000. Finally, HighMark Wealth Management LLC grew 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 worth $29,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.