Boeing (NYSE:BA) Trading Up 2.1% – Should You Buy?

Shares of The Boeing Company (NYSE:BA) were up 2.1% on Wednesday . The company traded as high as $144.09 and last traded at $142.38. Approximately 3,210,136 shares were traded during trading, a decline of 64% from the average daily volume of 8,970,311 shares. The stock had previously closed at $139.39.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Citigroup raised their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company boosted their price objective 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, UBS Group increased their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.10.

Boeing Stock Performance

The company has a market capitalization of $116.11 billion, a PE ratio of -8.44 and a beta of 1.24. The company has a 50 day simple moving average of $170.17 and a 200 day simple moving average of $163.90.

Boeing (NYSE:BA) last announced its earnings results 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 business earned ($0.47) EPS. As a group, equities research analysts anticipate 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 firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in shares of Boeing during the fourth quarter worth about $26,000. American National Bank & Trust boosted its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Boeing during the 4th quarter worth about $27,000. Fiduciary Advisors Inc. purchased a new position in Boeing in the fourth quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.