Boeing (NYSE:BA) Stock Price Up 3.1% – What’s Next?

by · The Cerbat Gem

The Boeing Company (NYSE:BA – Get Free Report)’s stock price was up 3.1% during trading on Friday . The stock traded as high as $235.14 and last traded at $234.3180. Approximately 8,598,297 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 8,606,611 shares. The stock had previously closed at $227.38.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research note on Monday, September 29th. Sanford C. Bernstein set a $277.00 target price on Boeing and gave the company an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group restated a “buy” rating on shares of Boeing in a research report on Tuesday, December 9th. Susquehanna decreased their price objective on Boeing from $270.00 to $255.00 and set a “positive” rating for the company in a report on Wednesday, November 12th. Finally, Citigroup began coverage on Boeing in a research report on Thursday, December 11th. They set a “buy” rating and a $265.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Get Our Latest Report on Boeing

Boeing Price Performance

The stock has a 50 day simple moving average of $203.31 and a 200-day simple moving average of $215.53. The firm has a market cap of $178.10 billion, a PE ratio of -17.13, a PEG ratio of 6.57 and a beta of 1.16.

Boeing (NYSE:BA – Get Free Report) last released its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter in the prior year, the company posted ($10.44) earnings per share. The company’s revenue was up 30.4% on a year-over-year basis. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, SVP Dana S. Deasy acquired 554 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the transaction, the senior vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boeing

Institutional investors have recently modified their holdings of the business. First Heartland Consultants Inc. increased its holdings in Boeing by 1.1% in the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock worth $882,000 after buying an additional 43 shares in the last quarter. Keb Asset Management LLC bought a new position in Boeing during the 4th quarter valued at about $234,000. Appleton Partners Inc. MA boosted its holdings in shares of Boeing by 7.7% during the 4th quarter. Appleton Partners Inc. MA now owns 1,741 shares of the aircraft producer’s stock valued at $378,000 after acquiring an additional 124 shares during the last quarter. Diversified Trust Co. grew its stake in shares of Boeing by 107.2% in the fourth quarter. Diversified Trust Co. now owns 6,774 shares of the aircraft producer’s stock worth $1,471,000 after acquiring an additional 3,504 shares during the period. Finally, Inspirion Wealth Advisors LLC purchased a new position in shares of Boeing during the fourth quarter valued at approximately $444,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Company Profile

(Get Free Report)

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.

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