Boeing (NYSE:BA) Shares Up 1.1% – Here’s Why

by · The Markets Daily

The Boeing Company (NYSE:BAGet Free Report)’s share price was up 1.1% during trading on Thursday . The stock traded as high as $221.29 and last traded at $220.2160. Approximately 4,738,687 shares changed hands during trading, a decline of 36% from the average daily volume of 7,409,483 shares. The stock had previously closed at $217.80.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

Analyst Upgrades and Downgrades

Several analysts have commented on BA shares. Wells Fargo & Company started coverage on shares of Boeing in a research report on Wednesday, April 1st. They set an “overweight” rating and a $250.00 target price for the company. Susquehanna reiterated a “positive” rating and set a $280.00 target price on shares of Boeing in a research report on Thursday, January 15th. UBS Group upped their target price on shares of Boeing from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Tigress Financial upped their target price on shares of Boeing from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boeing from $245.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.48.

Check Out Our Latest Report on BA

Boeing Stock Up 1.1%

The company has a market cap of $172.95 billion, a price-to-earnings ratio of 109.56 and a beta of 1.13. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 8.37. The firm’s fifty day moving average price is $221.26 and its 200-day moving average price is $216.39.

Boeing (NYSE:BAGet Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to analyst estimates of $22.41 billion. Boeing’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period last year, the firm earned ($5.90) EPS. Sell-side analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In related news, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total value of $2,456,193.03. Following the completion of the transaction, the executive vice president directly owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This represents a 41.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ann M. Schmidt sold 6,281 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the completion of the transaction, the senior vice president directly owned 13,978 shares of the company’s stock, valued at approximately $3,401,825.86. The trade was a 31.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,012 shares of company stock valued at $4,980,687 in the last quarter. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC bought a new stake in Boeing during the 4th quarter worth about $201,000. Sivia Capital Partners LLC lifted its position in Boeing by 16.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer’s stock worth $320,000 after buying an additional 217 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Boeing during the 2nd quarter worth about $80,000. Lombard Odier Asset Management USA Corp bought a new stake in Boeing during the 2nd quarter worth about $265,000. Finally, AXA S.A. lifted its position in Boeing by 1,225.7% during the 2nd quarter. AXA S.A. now owns 34,655 shares of the aircraft producer’s stock worth $7,261,000 after buying an additional 32,041 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Company Profile

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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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