Boeing (NYSE:BA) Shares Up 3% – Should You Buy?

The Boeing Company (NYSE:BA) rose 3% on Monday . The stock traded as high as $162.55 and last traded at $161.53. Approximately 2,054,362 shares traded hands during trading, a decline of 77% from the average daily volume of 8,999,803 shares. The stock had previously closed at $156.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note 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. StockNews.com raised Boeing to a “sell” rating in a report on Saturday, April 5th. Susquehanna increased their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.10.

Boeing Price Performance

The firm has a market capitalization of $120.10 billion, a PE ratio of -8.74 and a beta of 1.24. The company has a 50-day moving average price of $168.68 and a 200-day moving average price of $164.00.

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 analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) earnings per share. On average, research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated 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 directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boeing

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Keynote Financial Services LLC raised its stake in Boeing by 3.8% during the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock valued at $273,000 after buying an additional 57 shares in the last quarter. Chaney Capital Management Inc. boosted its position in Boeing by 2.1% during the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after acquiring an additional 58 shares during the period. Farmers & Merchants Investments Inc. grew its position in Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock valued at $1,878,000 after buying an additional 59 shares in the last quarter. Center for Financial Planning Inc. increased its stake in shares of Boeing by 12.0% during the fourth quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock valued at $99,000 after acquiring an additional 60 shares during the period. Finally, Trek Financial LLC raised its stake in shares of Boeing by 2.7% in the 4th quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after buying an additional 60 shares in the last quarter. 64.82% of the stock is currently 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.