Boeing (NYSE:BA) Trading Up 1.5% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price was up 1.5% during mid-day trading on Monday . The company traded as high as $202.20 and last traded at $201.83. Approximately 1,781,577 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 9,431,553 shares. The stock had previously closed at $198.75.

Analyst Ratings Changes

Several analysts have commented on BA shares. Morgan Stanley set a $200.00 target price on shares of Boeing and gave the stock an “equal weight” rating in a report on Thursday, June 12th. Susquehanna reiterated a “positive” rating and set a $240.00 price objective (up from $205.00) on shares of Boeing in a research note on Wednesday, May 14th. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the stock a “buy” rating in a research report on Thursday, June 12th. UBS Group upped their price target on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Bank of America raised Boeing from a “neutral” rating to a “buy” rating and raised their price objective for the company from $185.00 to $260.00 in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $209.85.

Boeing Price Performance

The business’s fifty day moving average price is $193.38 and its 200-day moving average price is $178.60. The stock has a market capitalization of $151.59 billion, a PE ratio of -11.22 and a beta of 1.43.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. Boeing’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted ($1.13) earnings per share. On average, analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares of the company’s stock, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 in the last ninety days. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently added to or reduced their stakes in the stock. American National Bank & Trust boosted its position in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 128 shares during the last quarter. REAP Financial Group LLC boosted its holdings in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Anfield Capital Management LLC grew its position in Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 95 shares during the period. Dogwood Wealth Management LLC raised its position in Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after acquiring an additional 112 shares during the period. Finally, Solstein Capital LLC bought a new stake in shares of Boeing during the 4th quarter valued at $33,000. 64.82% of the stock is currently owned by hedge funds and other 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.