Boeing (NYSE:BA) Shares Up 5.6% – Here’s Why

The Boeing Company (NYSE:BA)’s stock price rose 5.6% on Wednesday . The company traded as high as $171.00 and last traded at $170.66. Approximately 2,587,980 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 7,635,709 shares. The stock had previously closed at $161.57.

Analysts Set New Price Targets

BA has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Susquehanna boosted their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded Boeing to a “sell” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Price Performance

The firm has a market cap of $129.13 billion, a PE ratio of -9.40 and a beta of 1.53. The company has a 50 day simple moving average of $172.83 and a 200-day simple moving average of $163.41.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the firm earned ($0.47) earnings per share. On average, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Trading of Boeing

Institutional investors have recently made changes to their positions in the stock. Chancellor Financial Group WB LP purchased a new stake in Boeing in the fourth quarter worth $313,000. Objective Capital Management LLC purchased a new stake in Boeing in the fourth quarter worth $219,000. 111 Capital purchased a new stake in Boeing in the fourth quarter worth $681,000. Thoma Capital Management LLC purchased a new stake in Boeing in the fourth quarter worth $508,000. Finally, Members Wealth LLC purchased a new stake in Boeing in the fourth quarter worth $212,000. 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.