Boeing (NYSE:BA) Trading Up 1.8% - Here's Why

Shares of The Boeing Company (NYSE:BA - Get Free Report) rose 1.8% on Friday . The company traded as high as $217.68 and last traded at $215.75. 4,476,122 shares changed hands during trading, a decline of 53% from the average daily volume of 9,472,233 shares. The stock had previously closed at $212.03.

Analyst Ratings Changes

A number of research firms recently commented on BA. Bank of America upgraded shares of Boeing from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Wall Street Zen cut shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Melius raised shares of Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Susquehanna reissued a "positive" rating and issued a $240.00 target price (up from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Finally, Melius Research set a $204.00 price target on Boeing in a research report on Monday, March 24th. Four analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.77.

Boeing Stock Up 1.8%

The company's 50-day moving average is $202.13 and its 200 day moving average is $181.36. The company has a market cap of $162.68 billion, a price-to-earnings ratio of -12.04 and a beta of 1.41.

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

Insiders Place Their Bets

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the firm'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 value of $132,019.20. Following the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares of the company's stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Monetary Management Group Inc. boosted its holdings in Boeing by 33.3% in the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Boeing by 0.9% in the 1st quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer's stock valued at $923,000 after buying an additional 50 shares during the period. Heritage Financial Services LLC boosted its stake in shares of Boeing by 4.2% in the first quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock valued at $216,000 after buying an additional 51 shares in the last quarter. Wood Tarver Financial Group LLC grew its holdings in Boeing by 14.3% during the first 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 raised its position in Boeing by 2.0% in the first quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $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.

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.