Short Interest in The Boeing Company (NYSE:BA) Declines By 7.8%

The Boeing Company (NYSE:BA - Get Free Report) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 20,790,000 shares, a decline of 7.8% from the November 15th total of 22,550,000 shares. Based on an average trading volume of 12,700,000 shares, the days-to-cover ratio is presently 1.6 days.

Boeing Stock Performance

Shares of BA traded up $3.58 during mid-day trading on Monday, hitting $173.23. The company's stock had a trading volume of 13,034,322 shares, compared to its average volume of 9,247,016. Boeing has a one year low of $137.03 and a one year high of $267.54. The firm has a market capitalization of $107.09 billion, a PE ratio of -13.42 and a beta of 1.56. The stock's 50-day moving average is $152.79 and its two-hundred day moving average is $166.02.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted ($3.26) EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that Boeing will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently bought and sold shares of the business. Newport Trust Company LLC grew its stake in Boeing by 1.2% during the second 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 grew its position in 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 acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC increased its holdings in Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer's stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer's stock valued at $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer's stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of Boeing from $195.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. DZ Bank lowered Boeing from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Citigroup reduced their price target on shares of Boeing from $224.00 to $209.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boeing from $225.00 to $195.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $190.11.

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.