Boeing (NYSE:BA) Stock Price Up 0.2% After Earnings Beat

Shares of The Boeing Company (NYSE:BA) were up 0.2% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $172.80 and last traded at $172.69. Approximately 3,117,026 shares were traded during trading, a decline of 66% from the average daily volume of 9,088,232 shares. The stock had previously closed at $172.37.

The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion.

Analysts Set New Price Targets

BA has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday. Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Morgan Stanley boosted their target price on Boeing from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday. StockNews.com raised Boeing to a “sell” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.45.

Insider Buying and Selling

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in shares of Boeing by 38.3% during the 1st quarter. Golden State Wealth Management LLC now owns 5,250 shares of the aircraft producer’s stock worth $896,000 after purchasing an additional 1,454 shares in the last quarter. Westend Capital Management LLC grew its holdings in Boeing by 45.0% during the 1st quarter. Westend Capital Management LLC now owns 143,956 shares of the aircraft producer’s stock valued at $24,552,000 after buying an additional 44,710 shares during the last quarter. Bordeaux Wealth Advisors LLC increased its position in Boeing by 19.7% during the first quarter. Bordeaux Wealth Advisors LLC now owns 111,397 shares of the aircraft producer’s stock worth $18,999,000 after buying an additional 18,329 shares in the last quarter. Tsfg LLC raised its holdings in shares of Boeing by 68.8% in the first quarter. Tsfg LLC now owns 984 shares of the aircraft producer’s stock worth $168,000 after acquiring an additional 401 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Boeing by 13.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 111,636 shares of the aircraft producer’s stock valued at $18,774,000 after acquiring an additional 13,180 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 2.3 %

The firm has a market cap of $132.22 billion, a price-to-earnings ratio of -9.62 and a beta of 1.24. The business has a 50 day moving average of $165.01 and a 200 day moving average of $164.43.

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.