Boeing (NYSE:BA) Trading 2.7% Higher - Still a Buy?

The Boeing Company (NYSE:BA - Get Free Report) was up 2.7% on Tuesday . The stock traded as high as $204.97 and last traded at $203.83. Approximately 4,678,537 shares changed hands during trading, a decline of 48% from the average daily volume of 9,083,844 shares. The stock had previously closed at $198.53.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BA shares. Citigroup lifted their target price on shares of Boeing from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. UBS Group lifted 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. Wells Fargo & Company reiterated an "underweight" rating and issued a $140.00 target price (up previously from $111.00) on shares of Boeing in a research note on Wednesday, April 23rd. StockNews.com upgraded shares of Boeing from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, TD Securities reiterated a "buy" rating and issued a $180.00 target price on shares of Boeing in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $203.60.

Boeing Stock Performance

The firm's 50-day simple moving average is $169.61 and its 200 day simple moving average is $167.80. The stock has a market capitalization of $156.52 billion, a P/E ratio of -11.34 and a beta of 1.41.

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

Insider Activity

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on 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 now owns 42,513 shares in the company, valued at $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Uma M. Amuluru sold 3,159 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company's stock, valued at approximately $3,471,596.97. This trade represents a 14.12% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Boeing

Large investors have recently modified their holdings of the business. Sierra Ocean LLC acquired a new position in shares of Boeing during the fourth quarter valued at about $26,000. American National Bank & Trust increased its stake in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter valued at approximately $27,000. Fiduciary Advisors Inc. purchased a new position in Boeing in the 4th quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC grew its stake in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock worth $29,000 after buying an additional 90 shares in 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.