Short Interest in The Boeing Company (NYSE:BA) Declines By 17.0%

The Boeing Company (NYSE:BA) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 13,812,861 shares, a drop of 17.0% from the January 15th total of 16,636,845 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 9,725,551 shares, the short-interest ratio is presently 1.4 days. Based on an average daily volume of 9,725,551 shares, the short-interest ratio is presently 1.4 days. Currently, 1.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Sunday, February 1st. Wolfe Research reiterated an “outperform” rating on shares of Boeing in a report on Tuesday, January 27th. Royal Bank Of Canada increased their price objective on shares of Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. BNP Paribas Exane set a $150.00 target price on Boeing in a research report on Tuesday, November 18th. Finally, Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $246.14.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 2,731 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the completion of the sale, the executive vice president directly owned 11,925 shares in the company, valued at $2,814,300. This represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Howard E. Mckenzie sold 10,497 shares of Boeing stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the transaction, the executive vice president directly owned 14,692 shares of the company’s stock, valued at $3,437,781.08. This represents a 41.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently modified their holdings of the company. Utah Retirement Systems grew its stake in Boeing by 1.0% in the 4th quarter. Utah Retirement Systems now owns 120,941 shares of the aircraft producer’s stock valued at $26,259,000 after purchasing an additional 1,186 shares during the period. Vines Capital Management LLC purchased a new position in Boeing in the 4th quarter valued at approximately $358,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Boeing during the 4th quarter valued at $25,783,000. Polymer Capital Management US LLC grew its stake in Boeing by 84.6% during the fourth quarter. Polymer Capital Management US LLC now owns 24,255 shares of the aircraft producer’s stock valued at $5,266,000 after acquiring an additional 11,119 shares in the last quarter. Finally, Oxford Asset Management LLP raised its position in shares of Boeing by 16.2% in the fourth quarter. Oxford Asset Management LLP now owns 14,776 shares of the aircraft producer’s stock worth $3,208,000 after buying an additional 2,065 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 1.8%

NYSE BA traded down $4.38 on Wednesday, reaching $239.66. The company had a trading volume of 3,643,248 shares, compared to its average volume of 7,976,015. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37. The company’s fifty day moving average is $230.52 and its 200 day moving average is $219.60. Boeing has a 52-week low of $128.88 and a 52-week high of $254.35. The stock has a market capitalization of $188.22 billion, a P/E ratio of 119.19 and a beta of 1.15.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $10.32. The firm had revenue of $23.95 billion for the quarter, compared to analysts’ expectations of $22.41 billion. During the same period in the prior year, the firm earned ($5.90) earnings per share. Boeing’s revenue was up 57.1% compared to the same quarter last year. Sell-side analysts anticipate that Boeing will post -2.58 earnings per share for the current fiscal year.

About Boeing

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.