Boeing (NYSE:BA) Trading Up 2.5% - What's Next?

The Boeing Company (NYSE:BA - Get Free Report) traded up 2.5% on Thursday . The company traded as high as $204.39 and last traded at $203.88. 2,355,565 shares were traded during trading, a decline of 75% from the average session volume of 9,402,966 shares. The stock had previously closed at $198.90.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BA shares. Melius raised Boeing from a "hold" rating to a "buy" rating in a research report on Monday, March 24th. Cowen reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. UBS Group upped their target price on shares of Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Benchmark decreased their price target on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $215.77.

Boeing Stock Up 5.9%

The business has a 50-day simple moving average of $196.80 and a two-hundred day simple moving average of $179.54. The company has a market cap of $161.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same quarter last year, the business earned ($1.13) EPS. 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 earnings per share for the current year.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the sale, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares of the company's stock, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,744 shares of company stock worth $1,511,370. Corporate insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. increased its holdings in shares of Boeing by 4.8% in the first quarter. Howe & Rusling Inc. now owns 1,648 shares of the aircraft producer's stock valued at $281,000 after purchasing an additional 76 shares in the last quarter. Optima Capital LLC increased its stake in shares of Boeing by 18.6% in the 1st quarter. Optima Capital LLC now owns 1,843 shares of the aircraft producer's stock valued at $314,000 after buying an additional 289 shares during the period. Osterweis Capital Management Inc. raised its holdings in Boeing by 31.8% during the 1st quarter. Osterweis Capital Management Inc. now owns 109,881 shares of the aircraft producer's stock worth $18,740,000 after purchasing an additional 26,522 shares during the last quarter. Integrity Wealth Advisors Inc. lifted its holdings in Boeing by 36.2% in the first quarter. Integrity Wealth Advisors Inc. now owns 8,217 shares of the aircraft producer's stock valued at $1,401,000 after buying an additional 2,186 shares during the period. Finally, Modern Wealth Management LLC boosted its stake in Boeing by 22.8% in the first quarter. Modern Wealth Management LLC now owns 37,638 shares of the aircraft producer's stock valued at $6,419,000 after acquiring an additional 7,000 shares during the last quarter. 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.