Boeing (NYSE:BA) Trading Up 5.2% – Still a Buy?

The Boeing Company (NYSE:BAGet Free Report) traded up 5.2% during mid-day trading on Tuesday . The stock traded as high as $199.33 and last traded at $199.0290. 8,742,953 shares traded hands during trading, an increase of 16% from the average session volume of 7,538,210 shares. The stock had previously closed at $189.21.

Key Boeing News

Here are the key news stories impacting Boeing this week:

Wall Street Analyst Weigh In

BA has been the topic of several recent analyst reports. Zacks Research upgraded shares of Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Boeing in a report on Tuesday, December 9th. Royal Bank Of Canada boosted their price target on Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Tigress Financial upped their price objective on Boeing from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Morgan Stanley set a $245.00 price objective on Boeing in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $248.86.

Read Our Latest Stock Analysis on BA

Boeing Trading Up 5.2%

The company has a market cap of $156.31 billion, a price-to-earnings ratio of 99.02 and a beta of 1.14. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 8.37. The business’s 50 day moving average price is $226.74 and its 200-day moving average price is $216.71.

Boeing (NYSE:BAGet Free Report) last released its quarterly earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $10.32. The company had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $22.41 billion. The firm’s revenue was up 57.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($5.90) earnings per share. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Howard E. Mckenzie sold 10,497 shares of Boeing stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the completion of the sale, the executive vice president directly owned 14,692 shares in the company, valued at approximately $3,437,781.08. The trade was a 41.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Uma M. Amuluru sold 1,503 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $233.78, for a total value of $351,371.34. Following the sale, the executive vice president directly owned 19,015 shares in the company, valued at $4,445,326.70. This represents a 7.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,012 shares of company stock worth $4,980,687. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boeing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC increased its position in Boeing by 50.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 26,360 shares of the aircraft producer’s stock worth $5,689,000 after purchasing an additional 8,833 shares in the last quarter. Patton Fund Management Inc. boosted its position in Boeing by 734.4% in the third quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock valued at $2,228,000 after buying an additional 9,085 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Boeing by 3.3% during the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock worth $1,188,153,000 after buying an additional 177,597 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock worth $48,316,000 after buying an additional 65,216 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Boeing by 47.7% during the third quarter. Farther Finance Advisors LLC now owns 18,477 shares of the aircraft producer’s stock worth $3,988,000 after buying an additional 5,966 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Company Profile

(Get Free Report)

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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