Boeing (NYSE:BA) Shares Up 0.2% Following Better-Than-Expected Earnings

The Boeing Company (NYSE:BA - Get Free Report) shares shot up 0.2% on Thursday following a stronger than expected earnings report. The stock traded as high as $172.80 and last traded at $172.69. 3,117,026 shares traded hands during trading, a decline of 66% from the average session volume of 9,088,232 shares. The stock had previously closed at $172.37.

The aircraft producer reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion.

Analyst Ratings Changes

A number of brokerages have commented on BA. UBS Group upped their price objective on Boeing from $208.00 to $217.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft increased their target price on Boeing from $184.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, January 2nd. StockNews.com raised Boeing to a "sell" rating in a report on Saturday, April 5th. Barclays upgraded Boeing from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, TD Securities reiterated a "buy" rating and issued a $180.00 target price on shares of Boeing in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Boeing has an average rating of "Moderate Buy" and an average price target of $197.70.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company's stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently modified their holdings of BA. AdvisorNet Financial Inc lifted its position in shares of Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer's stock valued at $358,000 after acquiring an additional 710 shares during the period. Carnegie Investment Counsel increased its holdings in Boeing by 175.6% during the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer's stock worth $818,000 after purchasing an additional 2,943 shares in the last quarter. Principal Financial Group Inc. increased 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. World Investment Advisors LLC increased 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 worth $818,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Amundi increased its holdings in Boeing by 473.6% during the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock worth $268,862,000 after purchasing an additional 1,292,417 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 0.4 %

The business has a fifty day simple moving average of $165.18 and a 200 day simple moving average of $164.29. The stock has a market capitalization of $129.76 billion, a P/E ratio of -9.45 and a beta of 1.24.

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.

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