Boeing (NYSE:BA) Sees Unusually-High Trading Volume – Should You Buy?

The Boeing Company (NYSE:BA) saw strong trading volume on Tuesday . 7,989,233 shares were traded during trading, an increase of 3% from the previous session’s volume of 7,767,019 shares.The stock last traded at $185.05 and had previously closed at $175.16.

Wall Street Analyst Weigh In

Several brokerages have commented on BA. Wells Fargo & Company decreased their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $192.11.

Boeing Price Performance

The firm has a market cap of $108.63 billion, a price-to-earnings ratio of -13.63 and a beta of 1.52. The firm’s 50 day moving average price is $167.04 and its two-hundred day moving average price is $164.23.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the business earned ($0.47) earnings per share. On average, analysts anticipate that The Boeing Company will post -16.39 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after acquiring an additional 1,251,456 shares during the period. International Assets Investment Management LLC increased its holdings in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. raised its position in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. State Street Corp grew its position in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.