Boeing Target of Unusually Large Options Trading (NYSE:BA)

The Boeing Company (NYSE:BA - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock traders bought 159,248 call options on the stock. This represents an increase of 29% compared to the average daily volume of 123,070 call options.

Boeing Price Performance

Shares of BA traded up $8.36 during mid-day trading on Friday, reaching $210.94. The company's stock had a trading volume of 7,933,133 shares, compared to its average volume of 9,426,701. The stock has a market cap of $159.05 billion, a PE ratio of -11.77 and a beta of 1.43. Boeing has a 12-month low of $128.88 and a 12-month high of $218.80. The company's 50 day moving average is $196.80 and its 200 day moving average is $179.54.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group increased their price target on Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target on the stock in a research report on Friday. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. Finally, Benchmark reduced their target price on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 21st. Four analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $215.77.

Insider Activity at Boeing

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

Hedge Funds Weigh In On Boeing

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares during the last quarter. Geode Capital Management LLC raised its stake in Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Northern Trust Corp boosted its holdings in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock valued at $1,151,316,000 after acquiring an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock worth $890,469,000 after purchasing an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after acquiring an additional 19,615 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.

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