Boeing (NYSE:BA) Stock Jumps 2.2% – Here’s Why

The Boeing Company (NYSE:BA)’s stock price rose 2.2% during mid-day trading on Monday. The company traded as high as $177.37 and last traded at $175.3350. Approximately 9,248,291 shares traded hands during mid-day trading, an increase of 29% from the average daily volume of 7,144,196 shares. The stock had previously closed at $171.55.

Analysts Set New Price Targets

Several equities research analysts have commented on BA shares. Argus upgraded Boeing from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research report on Tuesday, August 11th. Sanford C. Bernstein cut their target price on shares of Boeing from $278.00 to $223.00 and set an “outperform” rating for the company in a report on Thursday. Oppenheimer cut shares of Boeing to a “market perform” rating in a research note on Wednesday, October 28th. Citigroup downgraded shares of Boeing from a “buy” rating to a “sell” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company dropped their price target on shares of Boeing from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.92.

Boeing Stock Up 2.2%

The business has a 50-day moving average price of $196.12 and a 200-day moving average price of $217.21. The stock has a market cap of $138.94 billion, a PE ratio of 19.08 and a beta of 1.26. The company has a current ratio of 1.13, a quick ratio of 0.34 and a debt-to-equity ratio of 6.31.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing the consensus estimate 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 was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($7.47) EPS. As a group, analysts forecast that The Boeing Company will post -1.72 earnings per share for the current year.

Institutional Trading of Boeing

Several institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $911,878,000. Bank of New York Mellon Corp purchased a new stake in Boeing in the 2nd quarter valued at $747,763,000. Legal & General Group Plc purchased a new stake in Boeing in the 2nd quarter valued at $710,816,000. Deutsche Bank AG acquired a new stake in shares of Boeing in the 2nd quarter worth $539,456,000. Finally, Swiss National Bank increased its stake in shares of Boeing by 7.6% in the 1st quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock worth $457,386,000 after acquiring an additional 163,000 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.