Boeing (NYSE:BA) Trading Up 2.1%

The Boeing Company (NYSE:BA) shares were up 2.1% on Thursday . The stock traded as high as $176.47 and last traded at $175.04. Approximately 2,928,120 shares traded hands during trading, a decline of 69% from the average daily volume of 9,586,414 shares. The stock had previously closed at $171.46.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BA shares. Melius reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Citigroup dropped their target price on Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Finally, Argus cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $222.41.

Boeing Stock Performance

The stock’s 50 day simple moving average is $184.16 and its two-hundred day simple moving average is $205.95. The firm has a market capitalization of $110.37 billion, a PE ratio of -50.64 and a beta of 1.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.75) EPS. Equities research analysts expect that The Boeing Company will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Strategic Blueprint LLC raised its position in Boeing by 8.7% in the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after purchasing an additional 264 shares during the period. Orca Investment Management LLC lifted its stake in Boeing by 5.5% during the 4th quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after acquiring an additional 195 shares in the last quarter. Morse Asset Management Inc boosted its holdings in Boeing by 65.0% during the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after acquiring an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. grew its position in Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after acquiring an additional 33,904 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Boeing by 2.0% during the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after purchasing an additional 19,847 shares during the period. Institutional investors and hedge funds 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.