Boeing (NYSE:BA) Stock Price Up 0.1%

The Boeing Company (NYSE:BA)’s share price shot up 0.1% on Friday . The company traded as high as $180.49 and last traded at $178.95. 1,745,324 shares changed hands during trading, a decline of 82% from the average session volume of 9,585,888 shares. The stock had previously closed at $178.85.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Melius Research reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Morgan Stanley reduced their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Sanford C. Bernstein lowered their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Argus lowered Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Melius reissued a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $222.41.

Boeing Price Performance

The firm has a market capitalization of $110.37 billion, a P/E ratio of -50.64 and a beta of 1.54. The company has a fifty day moving average of $183.74 and a 200 day moving average of $205.91.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.75) earnings per share. On average, sell-side analysts forecast that The Boeing Company will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Capital Research Global Investors lifted its stake in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Jennison Associates LLC bought a new position in Boeing during the fourth quarter worth $960,397,000. Wellington Management Group LLP grew its holdings in Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Boeing by 861.6% during the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after purchasing an additional 1,617,151 shares during the period. 64.82% of the stock is owned by 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.