Short Interest in The Boeing Company (NYSE:BA) Decreases By 14.1%

The Boeing Company (NYSE:BA) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 9,290,000 shares, a drop of 14.1% from the March 15th total of 10,810,000 shares. Based on an average trading volume of 10,180,000 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BA. United Bank lifted its stake in shares of Boeing by 4.7% in the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock worth $964,000 after buying an additional 226 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Boeing by 1,064.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after acquiring an additional 777 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Boeing by 68.0% during the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 2,879 shares during the last quarter. Prudential PLC purchased a new stake in shares of Boeing during the 1st quarter worth approximately $836,000. Finally, Dakota Wealth Management raised its position in shares of Boeing by 26.7% during the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 448 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA stock traded down $3.81 during midday trading on Friday, reaching $169.55. The company had a trading volume of 7,568,297 shares, compared to its average volume of 7,577,862. The stock has a 50 day moving average price of $194.23 and a 200-day moving average price of $208.02. Boeing has a 1-year low of $169.37 and a 1-year high of $267.54. The company has a market capitalization of $103.45 billion, a price-to-earnings ratio of -46.07, a price-to-earnings-growth ratio of 66.57 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the company posted ($1.75) EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Boeing will post 0.37 earnings per share for the current year.

Analysts Set New Price Targets

BA has been the topic of a number of analyst reports. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Tuesday, March 26th. Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Finally, Northcoast Research cut Boeing from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $236.53.

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.