Boeing (NYSE:BA) Shares Up 1% - Here's What Happened

Key Points

• Boeing's stock price rose by 1% during trading, closing at $229.70, after hitting a high of $230.90; however, the trading volume decreased by 83% compared to its average session volume.
• Analysts have provided mostly positive ratings for Boeing, with target prices raised by several firms, including JPMorgan and Jefferies, indicating an overall consensus rating of "Moderate Buy".
• Boeing reported a revenue increase of 34.9% year-over-year, amounting to $22.75 billion, although it still missed earnings per share expectations at ($1.24) compared to the consensus of ($0.92).

The Boeing Company (NYSE:BA - Get Free Report)'s stock price shot up 1% during trading on Friday . The stock traded as high as $230.90 and last traded at $229.70. 1,472,820 shares were traded during trading, a decline of 83% from the average session volume of 8,484,186 shares. The stock had previously closed at $227.33.

Analyst Upgrades and Downgrades

BA has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Jefferies Financial Group lifted their price objective on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Monday, July 28th. Susquehanna raised their price target on Boeing from $265.00 to $270.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. Finally, Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a research note on Friday, June 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $228.90.

Boeing Trading Up 1.3%

The company has a market cap of $174.08 billion, a P/E ratio of -13.94 and a beta of 1.48. The business's 50 day simple moving average is $216.95 and its 200 day simple moving average is $190.20.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter last year, the business posted ($2.90) EPS. The business's quarterly revenue was up 34.9% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president directly owned 20,513 shares of the company's stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Institutional Trading of Boeing

Several hedge funds have recently bought and sold shares of BA. Harbor Asset Planning Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $25,000. American National Bank & Trust raised its holdings in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after buying an additional 128 shares during the period. Piscataqua Savings Bank lifted its position in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock worth $30,000 after buying an additional 137 shares during the last quarter. REAP Financial Group LLC increased its position in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares during the last quarter. Finally, Dogwood Wealth Management LLC raised its stake in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after acquiring an additional 112 shares during the period. 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.

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