Boeing (NYSE:BA) Trading 2.9% Higher

Shares of The Boeing Company (NYSE:BA) traded up 2.9% on Monday . The stock traded as high as $172.32 and last traded at $172.08. 2,181,518 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 9,656,979 shares. The stock had previously closed at $167.22.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Susquehanna cut their target price on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. Citigroup cut their target price on Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada dropped their price objective on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Finally, Bank of America dropped their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.41.

Boeing Price Performance

The firm has a market capitalization of $106.23 billion, a PE ratio of -48.47 and a beta of 1.52. The firm has a 50-day simple moving average of $186.53 and a 200-day simple moving average of $206.63.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the firm earned ($1.75) earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -0.3 earnings per share for the current year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors increased its stake in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Jennison Associates LLC bought a new stake in Boeing in the 4th quarter worth approximately $960,397,000. Wellington Management Group LLP boosted its holdings in shares of Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Finally, Boston Partners boosted its holdings in shares of Boeing by 861.6% in the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after purchasing an additional 1,617,151 shares during the period. Institutional investors own 64.82% of the company’s stock.

About Boeing

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.