Boeing (NYSE:BA) Shares Up 2% – Time to Buy?

Shares of The Boeing Company (NYSE:BA) shot up 2% on Thursday . The company traded as high as $160.52 and last traded at $159.58. 2,095,508 shares were traded during trading, a decline of 77% from the average session volume of 9,007,935 shares. The stock had previously closed at $156.47.

Analyst Ratings Changes

A number of research analysts have recently commented on BA shares. UBS Group raised their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Susquehanna upped their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Melius raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Monday, March 24th. Finally, Melius Research set a $204.00 price objective on shares of Boeing in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.95.

Boeing Stock Performance

The company’s 50-day moving average price is $166.41 and its 200 day moving average price is $164.03. The stock has a market cap of $121.39 billion, a PE ratio of -8.83 and a beta of 1.24.

Boeing (NYSE:BA) last issued its quarterly 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 last year, the firm posted ($0.47) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the 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. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after buying an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp grew its position in shares of Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock valued at $1,151,316,000 after purchasing an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after purchasing an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after buying an additional 981,796 shares during the last quarter. 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.