Boeing (NYSE:BA) Stock Price Up 0.5% – What’s Next?

Shares of The Boeing Company (NYSE:BA) rose 0.5% on Thursday . The stock traded as high as $141.55 and last traded at $140.71. Approximately 3,408,426 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 9,105,095 shares. The stock had previously closed at $139.97.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley dropped their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Stock Performance

The company has a 50-day moving average of $153.20 and a 200-day moving average of $169.44. The stock has a market capitalization of $86.66 billion, a price-to-earnings ratio of -10.87 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($3.26) EPS. As a group, analysts expect that The Boeing Company will post -16.09 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of BA. Newport Trust Company LLC lifted its stake in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. State Street Corp lifted its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC grew its stake in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after buying an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. 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.