Boeing (NYSE:BA) Stock Price Up 2.4% – What’s Next?

The Boeing Company (NYSE:BA) shares rose 2.4% on Monday . The stock traded as high as $184.40 and last traded at $182.45. Approximately 4,090,758 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 8,642,350 shares. The stock had previously closed at $178.11.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BA. Melius Research raised Boeing from a “hold” rating to a “strong-buy” rating in a research report on Monday. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday. Susquehanna boosted their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Finally, StockNews.com raised Boeing to a “sell” rating in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Price Performance

The business’s 50 day simple moving average is $173.50 and its 200 day simple moving average is $163.90. The stock has a market cap of $137.05 billion, a P/E ratio of -9.97 and a beta of 1.53.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the company posted ($0.47) earnings per share. Research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Cerity Partners LLC lifted its position in Boeing by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 112,288 shares of the aircraft producer’s stock worth $17,072,000 after buying an additional 6,962 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Boeing by 17.5% during the third quarter. Penserra Capital Management LLC now owns 4,856 shares of the aircraft producer’s stock worth $738,000 after purchasing an additional 724 shares in the last quarter. Davis R M Inc. increased its holdings in shares of Boeing by 8.3% in the third quarter. Davis R M Inc. now owns 3,000 shares of the aircraft producer’s stock valued at $456,000 after purchasing an additional 231 shares in the last quarter. Truvestments Capital LLC bought a new position in Boeing in the 3rd quarter worth approximately $58,000. Finally, Qsemble Capital Management LP lifted its holdings in Boeing by 33.5% during the 3rd quarter. Qsemble Capital Management LP now owns 7,645 shares of the aircraft producer’s stock worth $1,162,000 after buying an additional 1,917 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.