Boeing (NYSE:BA) Shares Up 1.4%

Shares of The Boeing Company (NYSE:BA) were up 1.4% during mid-day trading on Wednesday . The company traded as high as $190.94 and last traded at $190.18. Approximately 2,265,802 shares traded hands during trading, a decline of 78% from the average daily volume of 10,430,912 shares. The stock had previously closed at $187.50.

Wall Street Analyst Weigh In

Several research analysts recently commented on BA shares. Barclays raised their price target on shares of Boeing from $210.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 6th. Royal Bank of Canada lowered their target price on Boeing from $285.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. TD Cowen cut their price target on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on Boeing from $270.00 to $230.00 and set an “overweight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group reduced their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.65.

Boeing Stock Performance

The firm has a market cap of $116.46 billion, a PE ratio of -51.68, a price-to-earnings-growth ratio of 30.94 and a beta of 1.52. The stock has a 50 day simple moving average of $201.07 and a two-hundred day simple moving average of $210.13.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.75) earnings per share. Equities research analysts forecast that The Boeing Company will post 1.55 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Boeing by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock worth $12,642,519,000 after acquiring an additional 892,446 shares in the last quarter. BlackRock Inc. grew its position in shares of Boeing by 2.4% in the second quarter. BlackRock Inc. now owns 36,819,108 shares of the aircraft producer’s stock valued at $7,774,723,000 after purchasing an additional 868,582 shares in the last quarter. State Street Corp increased its holdings in shares of Boeing by 1.5% in the second quarter. State Street Corp now owns 26,416,857 shares of the aircraft producer’s stock valued at $5,578,184,000 after purchasing an additional 392,811 shares during the last quarter. Capital Research Global Investors lifted its position in Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after buying an additional 16,041,103 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.