Boeing (NYSE:BA) Sees Large Volume Increase – Here’s Why

Shares of The Boeing Company (NYSE:BA) saw unusually-strong trading volume on Tuesday . Approximately 7,989,233 shares were traded during mid-day trading, an increase of 3% from the previous session’s volume of 7,767,019 shares.The stock last traded at $185.05 and had previously closed at $175.16.

Analyst Ratings Changes

BA has been the subject of a number of research analyst reports. Citigroup reduced their target price on shares of Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, January 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. TD Cowen reduced their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Boeing Trading Up 3.3 %

The stock’s 50-day moving average price is $168.24 and its 200-day moving average price is $164.26. The company has a market cap of $110.95 billion, a P/E ratio of -13.91 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the company posted ($0.47) earnings per share. On average, research analysts anticipate that The Boeing Company will post -16.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Large investors have recently made changes to their positions in the business. Valmark Advisers Inc. grew its position in shares of Boeing by 9.2% during the fourth quarter. Valmark Advisers Inc. now owns 3,427 shares of the aircraft producer’s stock valued at $607,000 after purchasing an additional 288 shares in the last quarter. MOKAN Wealth Management Inc. bought a new position in Boeing in the 4th quarter valued at $222,000. Blue Zone Wealth Advisors LLC increased its stake in Boeing by 0.8% in the 4th quarter. Blue Zone Wealth Advisors LLC now owns 21,564 shares of the aircraft producer’s stock worth $3,817,000 after buying an additional 169 shares during the period. Lee Financial Co bought a new stake in shares of Boeing during the fourth quarter valued at approximately $222,000. Finally, Secured Retirement Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter worth $696,000. 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.