Boeing (NYSE:BA) Shares Up 2.1% - Here's What Happened

The Boeing Company (NYSE:BA - Get Free Report)'s share price rose 2.1% during trading on Wednesday . The stock traded as high as $144.09 and last traded at $142.38. 3,210,136 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 8,970,311 shares. The stock had previously closed at $139.39.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent analyst reports. Melius Research set a $204.00 target price on shares of Boeing in a research report on Monday, March 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. Susquehanna increased their price objective on Boeing from $200.00 to $205.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. Finally, Citigroup increased their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and a consensus target price of $196.10.

Boeing Trading Up 0.9 %

The firm has a 50 day moving average price of $168.68 and a 200-day moving average price of $163.94. The firm has a market cap of $117.73 billion, a price-to-earnings ratio of -8.57 and a beta of 1.24.

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Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) earnings per share. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in BA. Keynote Financial Services LLC raised its stake in Boeing by 3.8% during the fourth quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer's stock worth $273,000 after acquiring an additional 57 shares in the last quarter. Chaney Capital Management Inc. lifted its holdings in Boeing by 2.1% during the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer's stock worth $508,000 after buying an additional 58 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer's stock valued at $1,878,000 after buying an additional 59 shares during the last quarter. Center for Financial Planning Inc. increased its stake in shares of Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer's stock valued at $99,000 after buying an additional 60 shares during the period. Finally, Trek Financial LLC raised its position in shares of Boeing by 2.7% during the fourth quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer's stock worth $408,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

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.