Boeing (NYSE:BA) Stock Price Up 1.2% – What’s Next?

The Boeing Company (NYSE:BA) rose 1.2% during trading on Tuesday . The company traded as high as $208.43 and last traded at $207.71. Approximately 1,919,792 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 9,182,941 shares. The stock had previously closed at $205.25.

Analysts Set New Price Targets

Several brokerages have recently commented on BA. Benchmark dropped their target price on shares of Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Morgan Stanley reiterated a “positive” rating on shares of Boeing in a research report on Friday. UBS Group raised their price target on shares of Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, April 23rd. Finally, Citigroup upped their target price on Boeing from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $204.35.

Boeing Price Performance

The business’s 50-day moving average price is $172.73 and its two-hundred day moving average price is $169.14. The firm has a market cap of $156.81 billion, a price-to-earnings ratio of -11.32 and a beta of 1.41.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. Boeing’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.13) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now owns 13,258 shares of the company’s stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,903 shares of company stock worth $2,082,169 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in shares of Boeing in the fourth quarter worth about $26,000. American National Bank & Trust increased its holdings in Boeing by 474.1% during the 1st 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 period. Sugar Maple Asset Management LLC bought a new stake in Boeing during the 4th quarter valued at $27,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing during the 4th quarter valued at $28,000. Finally, HighMark Wealth Management LLC grew its holdings in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.