Boeing (NYSE:BA) Shares Up 2.3% – Should You Buy?

Shares of The Boeing Company (NYSE:BAGet Free Report) were up 2.3% during mid-day trading on Thursday . The stock traded as high as $229.55 and last traded at $229.1690. Approximately 4,825,424 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 7,220,924 shares. The stock had previously closed at $224.11.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BA shares. UBS Group lifted their target price on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boeing in a report on Wednesday, March 4th. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company initiated coverage on Boeing in a report on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Morgan Stanley boosted their price objective on Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $259.60.

View Our Latest Analysis on Boeing

Boeing Stock Up 2.3%

The company has a 50 day simple moving average of $217.20 and a two-hundred day simple moving average of $217.26. The company has a quick ratio of 0.35, a current ratio of 1.18 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $180.65 billion, a P/E ratio of 111.25 and a beta of 1.13.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. During the same period in the previous year, the firm earned ($0.49) earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post 0.04 EPS for the current year.

Insider Buying and Selling

In other Boeing news, SVP Ann M. Schmidt sold 6,281 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the sale, the senior vice president directly owned 13,978 shares of the company’s stock, valued at $3,401,825.86. The trade was a 31.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the transaction, the executive vice president directly owned 14,692 shares in the company, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,012 shares of company stock valued at $4,980,687. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BA. Vanguard Group Inc. grew its stake in shares of Boeing by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after buying an additional 3,460,021 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Boeing by 245.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock valued at $489,052,000 after buying an additional 1,600,909 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock valued at $840,204,000 after buying an additional 1,176,074 shares during the last quarter. Viking Global Investors LP grew its stake in shares of Boeing by 31.3% during the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock valued at $858,294,000 after buying an additional 942,536 shares during the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Boeing during the third quarter valued at approximately $192,734,000. Institutional investors own 64.82% of the company’s stock.

About Boeing

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Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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