Boeing (NYSE:BA) Stock Price Up 3.1% – Still a Buy?

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

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BA shares. JPMorgan Chase & Co. raised their target price on shares of Boeing from $240.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Tigress Financial reaffirmed a “buy” rating and set a $275.00 price objective on shares of Boeing in a report on Monday, December 29th. Susquehanna reduced their target price on Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $235.33.

Check Out Our Latest Analysis on Boeing

Boeing Price Performance

The firm’s 50 day simple moving average is $203.31 and its two-hundred day simple moving average is $215.53. The firm has a market capitalization of $178.10 billion, a P/E ratio of -17.13, a P/E/G ratio of 6.57 and a beta of 1.16.

Boeing (NYSE:BAGet Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (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 business earned ($10.44) earnings per share. The company’s revenue was up 30.4% on a year-over-year basis. As a group, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This trade represents a 8.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dana S. Deasy acquired 554 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was purchased at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This trade represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Boeing

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Boeing by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 67,529,417 shares of the aircraft producer’s stock worth $14,574,874,000 after buying an additional 756,057 shares during the last quarter. Newport Trust Company LLC lifted its stake in Boeing by 2.5% in the third quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock worth $6,301,901,000 after acquiring an additional 707,490 shares during the period. Geode Capital Management LLC boosted its holdings in Boeing by 2.7% in the second quarter. Geode Capital Management LLC now owns 16,316,838 shares of the aircraft producer’s stock valued at $3,402,073,000 after acquiring an additional 432,026 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Boeing by 3.3% in the third quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after acquiring an additional 177,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Boeing by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,242,397 shares of the aircraft producer’s stock valued at $888,910,000 after purchasing an additional 44,338 shares during the period. 64.82% of the stock is owned by institutional investors.

About Boeing

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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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