Boeing (NYSE:BA) Trading Up 10.2% – Should You Buy?

The Boeing Company (NYSE:BA) shot up 10.2% during trading on Tuesday . The stock traded as high as $205.78 and last traded at $205.4180. 22,545,403 shares changed hands during mid-day trading, an increase of 171% from the average session volume of 8,330,889 shares. The stock had previously closed at $186.46.

Wall Street Analyst Weigh In

BA has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of Boeing in a report on Monday, September 29th. BNP Paribas Exane began coverage on Boeing in a report on Tuesday, November 18th. They issued an “underperform” rating and a $150.00 price target on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $267.00 price objective on shares of Boeing in a research note on Friday, November 14th. Susquehanna reduced their price objective on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a report on Wednesday, November 12th. Finally, Loop Capital set a $223.00 target price on Boeing in a report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $232.09.

Boeing Stock Up 10.2%

The stock’s fifty day simple moving average is $205.34 and its 200-day simple moving average is $214.28.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period in the previous year, the company posted ($10.44) earnings per share. Boeing’s revenue was up 30.4% on a year-over-year basis. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the sale, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dana S. Deasy bought 554 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average price of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Boeing

Hedge funds have recently modified their holdings of the stock. National Pension Service grew its holdings in Boeing by 19.6% during the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after purchasing an additional 218,049 shares in the last quarter. Alpha Cubed Investments LLC boosted its position in Boeing by 43.3% in the 2nd quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock valued at $754,000 after buying an additional 1,088 shares during the last quarter. Vanguard Group Inc. boosted its position in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Boeing during the second quarter valued at about $62,859,000. Finally, Vestor Capital LLC increased its position in shares of Boeing by 8,287.4% during the second quarter. Vestor Capital LLC now owns 246,086 shares of the aircraft producer’s stock worth $51,562,000 after acquiring an additional 243,152 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.