Boeing (NYSE:BA) Stock Price Up 0.9% – Still a Buy?

The Boeing Company (NYSE:BA)’s stock price rose 0.9% during mid-day trading on Thursday . The stock traded as high as $176.54 and last traded at $176.39. Approximately 1,418,901 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 7,472,984 shares. The stock had previously closed at $174.80.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Trading Up 1.9 %

The company has a market capitalization of $110.14 billion, a price-to-earnings ratio of -13.80 and a beta of 1.52. The firm’s 50 day moving average price is $164.90 and its two-hundred day moving average price is $164.53.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.26) EPS. As a group, equities research analysts predict that The Boeing Company will post -16.36 EPS for the current year.

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc lifted its holdings in shares of Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares during the period. Carnegie Investment Counsel increased its position in Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 2,943 shares during the period. Rockefeller Capital Management L.P. increased its position in Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after purchasing an additional 38,332 shares during the last quarter. Finally, Jennison Associates LLC boosted 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 purchasing an additional 602,143 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

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.