Boeing (NYSE:BA) Trading Up 0.6% – Still a Buy?

The Boeing Company (NYSE:BA) was up 0.6% during trading on Tuesday . The company traded as high as $179.35 and last traded at $177.69. Approximately 2,709,406 shares traded hands during trading, a decline of 71% from the average daily volume of 9,328,779 shares. The stock had previously closed at $176.55.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BA. UBS Group reduced their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Susquehanna dropped their target price 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 decreased their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

The firm has a 50 day moving average price of $157.72 and a two-hundred day moving average price of $165.44. The company has a market capitalization of $109.09 billion, a P/E ratio of -13.68 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) EPS. On average, equities analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the company. Newport Trust Company LLC increased its stake in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares in the last quarter. State Street Corp increased its position in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Institutional investors and hedge funds 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.