Boeing (NYSE:BA) Trading Up 1.5%

Shares of The Boeing Company (NYSE:BA) were up 1.5% on Wednesday . The company traded as high as $177.64 and last traded at $171.76. Approximately 7,025,265 shares changed hands during trading, a decline of 27% from the average daily volume of 9,571,790 shares. The stock had previously closed at $169.18.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BA shares. Melius Research reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Bank of America dropped their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Melius reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Wells Fargo & Company dropped their price objective on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. Finally, Barclays dropped their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.41.

Boeing Price Performance

The company has a 50-day moving average price of $187.26 and a 200-day moving average price of $206.61.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the company posted ($1.75) earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Large investors have recently added to or reduced their stakes in the business. Strategic Blueprint LLC lifted its position in Boeing by 8.7% during the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after buying an additional 264 shares during the period. Morse Asset Management Inc increased its stake in Boeing by 65.0% during the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after acquiring an additional 3,152 shares during the last quarter. Peregrine Asset Advisers Inc. increased its stake in Boeing by 1,335.3% during the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after acquiring an additional 33,904 shares during the last quarter. California Public Employees Retirement System increased its stake in Boeing by 2.0% during the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after acquiring an additional 19,847 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in Boeing by 5.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock worth $7,594,000 after acquiring an additional 1,596 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.