Investors Buy Large Volume of Call Options on Boeing (NYSE:BA)

The Boeing Company (NYSE:BA) was the recipient of some unusual options trading on Wednesday. Stock traders bought 133,797 call options on the company. This represents an increase of approximately 33% compared to the typical daily volume of 100,696 call options.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the sale, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. The trade was a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mortimer J. Buckley bought 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently modified their holdings of the stock. Revolve Wealth Partners LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $201,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Boeing by 101.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 13,929 shares of the aircraft producer’s stock valued at $2,376,000 after acquiring an additional 7,002 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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. Golden State Wealth Management LLC grew its holdings in shares of Boeing by 38.3% in the first quarter. Golden State Wealth Management LLC now owns 5,250 shares of the aircraft producer’s stock valued at $896,000 after acquiring an additional 1,454 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Boeing by 0.5% in the first quarter. KBC Group NV now owns 60,872 shares of the aircraft producer’s stock valued at $10,382,000 after acquiring an additional 273 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA stock opened at $200.15 on Friday. The company has a market cap of $151.34 billion, a P/E ratio of -14.63 and a beta of 1.47. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock’s 50 day simple moving average is $220.74 and its 200 day simple moving average is $212.08.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate 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. The firm’s revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the business posted ($10.44) earnings per share. Equities analysts predict that Boeing will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Jefferies Financial Group set a $255.00 target price on Boeing in a research report on Tuesday, September 30th. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research report on Monday, September 29th. Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein upped their target price on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.79.

Boeing Company Profile

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.