Boeing (NYSE:BA) Trading 2.1% Higher - Still a Buy?

The Boeing Company (NYSE:BA - Get Free Report)'s stock price rose 2.1% during trading on Thursday . The stock traded as high as $170.63 and last traded at $169.75. Approximately 2,023,006 shares were traded during trading, a decline of 73% from the average daily volume of 7,608,851 shares. The stock had previously closed at $166.20.

Analysts Set New Price Targets

BA has been the subject of several analyst reports. DZ Bank cut shares of Boeing from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a "positive" rating for the company in a report on Thursday, October 24th. TD Cowen lowered their target price on shares of Boeing from $200.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Morgan Stanley lowered their target price on shares of 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, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $192.21.

Boeing Stock Up 1.3 %

The company's fifty day moving average is $162.76 and its 200 day moving average is $165.00. The firm has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The company's revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -16.43 EPS for the current fiscal year.

Institutional Trading of Boeing

Large investors have recently added to or reduced their stakes in the company. Newport Trust Company LLC lifted its stake in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer's stock worth $5,758,830,000 after buying an additional 388,633 shares during the last quarter. State Street Corp lifted its stake in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer's stock worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer's stock worth $1,774,705,000 after buying an additional 320,415 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer's stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer's stock worth $739,957,000 after buying an additional 277,350 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.

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