Boeing (NYSE:BA) Trading Up 1.5% – Still a Buy?

The Boeing Company (NYSE:BA) shares traded up 1.5% during mid-day trading on Thursday . The stock traded as high as $182.11 and last traded at $182.07. 1,784,300 shares were traded during mid-day trading, a decline of 81% from the average session volume of 9,312,450 shares. The stock had previously closed at $179.34.

Analysts Set New Price Targets

BA has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group reduced their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Susquehanna dropped their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Morgan Stanley reduced their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

The stock has a 50 day moving average price of $157.72 and a 200 day moving average price of $165.69. The company has a market capitalization of $111.72 billion, a P/E ratio of -14.01 and a beta of 1.56.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm posted ($3.26) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its position in shares of Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Jennison Associates LLC boosted its stake in Boeing by 9.9% in 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 during the period. World Investment Advisors LLC grew its holdings in Boeing by 243.4% during the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 3,814 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of Boeing during the third quarter valued at about $11,679,000. 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.