Boeing (NYSE:BA) Shares Climb 2.1% After Insider Buying Activity

The Boeing Company (NYSE:BA) was up 2.1% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $179.19 and last traded at $176.8770. 8,130,752 shares were traded during trading, an increase of 14% from the average daily volume of 7,149,051 shares. The stock had previously closed at $173.31.

Specifically, Director Steven Mollenkopf acquired 2,950 shares of the company’s stock in a transaction on Friday, October 30th. The shares were bought at an average cost of $173.03 per share, for a total transaction of $510,438.50. Following the acquisition, the director directly owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This trade represents a 78.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mortimer Buckley bought 5,820 shares of the business’s stock in a transaction on Friday, October 30th. The stock was acquired at an average cost of $171.55 per share, for a total transaction of $998,421.00. Following the completion of the transaction, the director owned 10,250 shares in the company, valued at $1,758,387.50. This represents a 131.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research lowered shares of Boeing from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Barclays lowered their price objective on Boeing from $300.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Glj Research initiated coverage on shares of Boeing in a research note on Wednesday, October 28th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boeing from $244.00 to $248.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird cut their target price on Boeing from $300.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.88.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon finalized an order for 140 Boeing 737-10 jets, a record 737 MAX purchase by a lessor. The order lifts Avolon’s backlog to more than 240 aircraft and reinforces demand for Boeing’s single-aisle jets. Avolon Finalizes Order for 140 Boeing 737-10 Jets
• Positive Sentiment: Two directors bought about $1.51 million of Boeing shares after the recent earnings report. Such open-market purchases may signal confidence in the company’s recovery prospects. Boeing Chairman and Former Vanguard CEO Buy $1.51 Million in Stock
• Neutral Sentiment: Coverage describes a mixed session: new orders supported shares, while concerns about fuel-tank inspections added a potential operational overhang. The provided report excerpt does not specify the scope or likely impact of the inspections. Fuel Tank Inspections, New Orders Send Boeing Stock Rising
• Negative Sentiment: Boeing’s recovery still hinges on execution: its 737 MAX production ramp has been pushed back, and delays to the 777X have raised customer concerns. These setbacks could postpone deliveries and cash generation. Boeing Stock Slips as Emirates Gets Concerned

Boeing Stock Up 2.1%

The firm has a market cap of $140.17 billion, a PE ratio of 19.25 and a beta of 1.34. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The business has a fifty day moving average price of $194.60 and a two-hundred day moving average price of $216.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The company had revenue of $24.19 billion during the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. Boeing’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned ($7.47) earnings per share. On average, analysts anticipate that The Boeing Company will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently made changes to their positions in the company. Jupiter Topco LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at $911,878,000. Bank of New York Mellon Corp bought a new stake in Boeing during the 2nd quarter valued at approximately $747,763,000. Legal & General Group Plc bought a new stake in shares of Boeing in the second quarter valued at approximately $710,816,000. Deutsche Bank AG acquired a new stake in Boeing in the 2nd quarter worth $539,456,000. Finally, Swiss National Bank grew its position in Boeing by 7.6% during the first quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock worth $457,386,000 after buying an additional 163,000 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.