Boeing (NYSE:BA) Trading 2% Higher - What's Next?

The Boeing Company (NYSE:BA - Get Free Report)'s stock price traded up 2% during trading on Thursday . The company traded as high as $217.68 and last traded at $216.24. 2,640,272 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 9,438,911 shares. The stock had previously closed at $212.03.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BA. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Thursday, May 22nd. Susquehanna reaffirmed a "positive" rating and issued a $240.00 target price (up from $205.00) on shares of Boeing in a report on Wednesday, May 14th. UBS Group lifted their target price on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Morgan Stanley set a $200.00 price target on Boeing and gave the stock an "equal weight" rating in a research report on Thursday, June 12th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $215.77.

Boeing Stock Performance

The stock has a fifty day moving average of $201.38 and a 200-day moving average of $181.06. The company has a market cap of $162.68 billion, a PE ratio of -12.04 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the previous year, the company posted ($1.13) earnings per share. The company's revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president owned 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 in the last ninety days. 0.09% of the stock is owned by company insiders.

Institutional Trading of Boeing

Several hedge funds have recently modified their holdings of the company. Monetary Management Group Inc. lifted its holdings in shares of Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 50 shares during the period. Anchor Investment Management LLC raised its position in Boeing by 0.9% during the 1st quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer's stock worth $923,000 after buying an additional 50 shares during the last quarter. Heritage Financial Services LLC raised its position in Boeing by 4.2% during the 1st quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock worth $216,000 after buying an additional 51 shares during the last quarter. Wood Tarver Financial Group LLC lifted its stake in shares of Boeing by 14.3% in the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after acquiring an additional 55 shares during the period. Finally, Signature Wealth Management Partners LLC boosted its holdings in shares of Boeing by 2.0% in the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock valued at $493,000 after acquiring an additional 57 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.