Boeing (NYSE:BA) Stock Price Up 4.7% - What's Next?

Key Points

• Shares rose 4.7% to $227.27 on Friday with volume up about 62% (~11.1M shares), indicating heightened investor interest.
• Boeing reported Q3 EPS of ($7.47), far below the ($0.51) estimate, but revenue beat at $23.27B (up 30.4% YoY); analysts still expect full-year EPS of about -2.58.
• Analyst sentiment is mixed: MarketBeat shows an average rating of Moderate Buy and an average price target of $234.92, while individual targets range from $150 to $275 after several upgrades and downgrades.

Shares of The Boeing Company (NYSE:BA - Get Free Report) were up 4.7% during trading on Friday . The company traded as high as $227.77 and last traded at $227.2690. Approximately 11,109,974 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 6,862,038 shares. The stock had previously closed at $217.12.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a "buy" rating to a "hold" rating and set a $240.00 price objective on the stock. in a research note on Thursday, October 30th. Tigress Financial reissued a "buy" rating and set a $275.00 price target on shares of Boeing in a research report on Monday. BNP Paribas Exane began coverage on shares of Boeing in a research report on Tuesday, November 18th. They issued an "underperform" rating and a $150.00 price objective for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Boeing in a research note on Monday, September 29th. Finally, Susquehanna decreased their target price on Boeing from $270.00 to $255.00 and set a "positive" rating for the company in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and an average price target of $234.92.

Boeing Trading Up 4.7%

The stock has a market capitalization of $172.74 billion, a price-to-earnings ratio of -16.61 and a beta of 1.16. The stock's 50 day moving average is $202.14 and its two-hundred day moving average is $214.52.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Boeing

A number of large investors have recently modified their holdings of BA. Vanguard Group Inc. raised its holdings in Boeing by 1.1% during the third quarter. Vanguard Group Inc. now owns 67,529,417 shares of the aircraft producer's stock worth $14,574,874,000 after acquiring an additional 756,057 shares in the last quarter. Newport Trust Company LLC increased its position in shares of Boeing by 2.5% during 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 purchasing an additional 707,490 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Boeing by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer's stock worth $3,402,073,000 after purchasing an additional 432,026 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Boeing by 3.3% in the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer's stock valued at $1,188,153,000 after buying an additional 177,597 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Boeing by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer's stock valued at $888,910,000 after buying an additional 44,338 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.