Boeing (NYSE:BA) Stock Price Up 1.3% – Here’s What Happened

Shares of The Boeing Company (NYSE:BA) traded up 1.3% during trading on Monday . The company traded as high as $171.77 and last traded at $171.14. 9,537,359 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 9,471,018 shares. The stock had previously closed at $168.93.

Wall Street Analyst Weigh In

BA has been the topic of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird reduced their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

The company has a market cap of $108.58 billion, a P/E ratio of -13.61 and a beta of 1.52. The company’s 50-day moving average is $163.59 and its two-hundred day moving average is $164.52.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted ($3.26) earnings per share. Equities research analysts anticipate that The Boeing Company will post -16.43 EPS for the current year.

Institutional Trading of Boeing

A number of large investors have recently made changes to their positions in BA. American Century Companies Inc. lifted its holdings in shares of Boeing by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after buying an additional 7,739 shares during the period. Pacer Advisors Inc. increased its position in Boeing by 5.3% during the second quarter. Pacer Advisors Inc. now owns 41,287 shares of the aircraft producer’s stock valued at $7,515,000 after acquiring an additional 2,066 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Boeing by 28.2% in the second quarter. Thrivent Financial for Lutherans now owns 32,646 shares of the aircraft producer’s stock valued at $5,942,000 after acquiring an additional 7,182 shares during the period. Frank Rimerman Advisors LLC boosted its position in Boeing by 1,401.6% in the second quarter. Frank Rimerman Advisors LLC now owns 2,778 shares of the aircraft producer’s stock worth $506,000 after purchasing an additional 2,593 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Boeing by 72.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,790 shares of the aircraft producer’s stock valued at $3,966,000 after purchasing an additional 9,171 shares during the period. 64.82% of the stock is currently owned by institutional investors.

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.