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

Key Points

• Boeing shares gapped up premarket and opened at $198.30 versus Tuesday's close of $186.46, trading up about 9.3% to $200.72 on volume of ~4.14 million shares.
• The company reported an outsized quarterly earnings miss — EPS ($7.47) vs. estimates of ($0.51) — while revenue beat at $23.27 billion, up 30.4% year-over-year.
• Analyst sentiment is mixed but leaning positive overall, with a MarketBeat average rating of "Moderate Buy" and an average price target of $232.09.

The Boeing Company (NYSE:BA - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $186.46, but opened at $198.30. Boeing shares last traded at $200.7180, with a volume of 4,135,865 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on BA. UBS Group restated a "buy" rating on shares of Boeing in a research note on Thursday, October 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Boeing in a report on Wednesday, October 8th. BNP Paribas set a $150.00 price target on Boeing in a research report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft downgraded shares of Boeing from a "buy" rating to a "hold" rating and set a $240.00 price objective for the company. in a research report on Thursday, October 30th. Finally, Susquehanna lowered their price target on Boeing from $270.00 to $255.00 and set a "positive" rating for the company in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $232.09.

Boeing Trading Up 9.3%

The firm has a 50-day moving average of $205.34 and a 200 day moving average of $214.28. The company has a market cap of $154.84 billion, a P/E ratio of -14.89 and a beta of 1.44.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. During the same period last year, the firm earned ($10.44) earnings per share. Boeing's quarterly revenue was up 30.4% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other news, SVP Dana S. Deasy purchased 554 shares of the business's stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the acquisition, the senior vice president owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares in the company, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC bought a new position in Boeing in the 2nd quarter worth $378,459,000. Vanguard Group Inc. lifted its position in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Ninety One UK Ltd bought a new stake in Boeing in the 3rd quarter worth about $192,734,000. Amundi raised its holdings in shares of Boeing by 75.5% during the second quarter. Amundi now owns 1,776,634 shares of the aircraft producer's stock valued at $376,700,000 after purchasing an additional 764,236 shares during the last quarter. Finally, Newport Trust Company LLC boosted its stake in shares of Boeing by 2.5% in the 3rd quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer's stock worth $6,301,901,000 after buying an additional 707,490 shares during the last quarter. Hedge funds and other institutional investors 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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