Boeing (NYSE:BA) Shares Climb 2.1% Following Insider Buying Activity

Shares of The Boeing Company (NYSE:BA) traded up 2.1% during mid-day trading on Wednesday following insider buying activity. The company traded as high as $179.19 and last traded at $176.8770. 8,130,752 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 7,149,051 shares. The stock had previously closed at $173.31.

Specifically, Director Steven Mollenkopf acquired 2,950 shares of the business’s stock in a transaction on Friday, October 30th. The stock was bought at an average cost of $173.03 per share, for a total transaction of $510,438.50. Following the purchase, the director owned 6,717 shares in the company, valued at approximately $1,162,242.51. This represents a 78.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mortimer Buckley bought 5,820 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was purchased at an average price of $171.55 per share, for a total transaction of $998,421.00. Following the transaction, the director owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. This represents a 131.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analyst Weigh In

BA has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of Boeing from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Morgan Stanley decreased their price target on shares of Boeing from $225.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. DZ Bank restated a “buy” rating on shares of Boeing in a research report on Thursday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 price objective on shares of Boeing in a research note on Monday, October 26th. Finally, UBS Group cut their price objective on shares of Boeing from $275.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $247.88.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon finalized an order for 140 Boeing 737-10 jets, a record 737 MAX purchase by a lessor. The order lifts Avolon’s backlog to more than 240 aircraft and reinforces demand for Boeing’s single-aisle jets. Avolon Finalizes Order for 140 Boeing 737-10 Jets
• Positive Sentiment: Two directors bought about $1.51 million of Boeing shares after the recent earnings report. Such open-market purchases may signal confidence in the company’s recovery prospects. Boeing Chairman and Former Vanguard CEO Buy $1.51 Million in Stock
• Neutral Sentiment: Coverage describes a mixed session: new orders supported shares, while concerns about fuel-tank inspections added a potential operational overhang. The provided report excerpt does not specify the scope or likely impact of the inspections. Fuel Tank Inspections, New Orders Send Boeing Stock Rising
• Negative Sentiment: Boeing’s recovery still hinges on execution: its 737 MAX production ramp has been pushed back, and delays to the 777X have raised customer concerns. These setbacks could postpone deliveries and cash generation. Boeing Stock Slips as Emirates Gets Concerned

Boeing Price Performance

The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34. The stock’s fifty day moving average is $194.60 and its 200-day moving average is $216.52. The stock has a market cap of $140.17 billion, a PE ratio of 19.25 and a beta of 1.34.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The firm had revenue of $24.19 billion for the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. Boeing’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm earned ($7.47) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -1.72 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC acquired a new position in Boeing in the 2nd quarter worth $911,878,000. Bank of New York Mellon Corp acquired a new stake in shares of Boeing during the second quarter valued at about $747,763,000. Legal & General Group Plc purchased a new stake in shares of Boeing during the second quarter worth about $710,816,000. Deutsche Bank AG purchased a new stake in shares of Boeing during the second quarter worth about $539,456,000. Finally, Swiss National Bank increased its position in shares of Boeing by 7.6% during the first quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock worth $457,386,000 after acquiring an additional 163,000 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.