Boeing (NYSE:BA) Trading 2.5% Higher – Here’s Why

The Boeing Company (NYSE:BA) shares traded up 2.5% on Wednesday . The company traded as high as $232.08 and last traded at $230.0720. 7,043,613 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 7,109,715 shares. The stock had previously closed at $224.38.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: CEO Kelly Ortberg is reportedly set to accompany President Trump on a China visit, which could improve Boeing’s chances of landing major aircraft orders. Boeing CEO Kelly Ortberg set to join Trump on China visit next week
• Positive Sentiment: Reports that Trump invited Boeing’s CEO to Beijing and that Boeing’s China order hopes are reviving have fueled optimism about future demand. Boeing’s China Order Hopes Revive As Trump Invites CEO To Beijing Visit: Report
• Positive Sentiment: Boeing continues to benefit from fresh commercial wins and program momentum, including recent aircraft orders and training-related deals with airline customers. Should Boeing’s Integrated Jet Orders and Training Deals Prompt Action From Boeing (BA) Investors?
• Positive Sentiment: Ukraine’s approval to pursue up to $374 million in Boeing JDAM bomb kits adds a modest defense-related tailwind. Ukraine Gets Approval For Up To $374 Million Boeing Bomb Kit Purchase
• Neutral Sentiment: Boeing was mentioned in broader trade and China-visit coverage, but those headlines mainly reinforce the same theme of possible diplomacy-driven order opportunities. White House scales back CEO group for China trip
• Neutral Sentiment: DP Aircraft I’s refinancing of a Boeing 787 fleet is a positive sign for the aircraft’s financing environment, but it is not a direct earnings driver for Boeing. DP Aircraft I Secures Long-Term Refinancing for Boeing 787 Fleet
• Neutral Sentiment: News that Boeing pulled out of the Invictus Games is unlikely to materially affect the company’s financial outlook. Boeing Stock (NYSE:BA) Gains After Pulling Out of Invictus Games

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. UBS Group upped their price target on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Wolfe Research restated an “outperform” rating and issued a $275.00 price target on shares of Boeing in a report on Thursday, April 23rd. Wells Fargo & Company started coverage on Boeing in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, TD Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $259.60.

Boeing Trading Up 2.9%

The company has a market cap of $187.34 billion, a PE ratio of 115.36 and a beta of 1.21. The business has a 50 day simple moving average of $216.90 and a two-hundred day simple moving average of $217.70. The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.48. The firm had revenue of $22.22 billion during the quarter, compared to analysts’ expectations of $22.15 billion. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted ($0.49) earnings per share. On average, analysts forecast that The Boeing Company will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mortimer J. Buckley bought 2,230 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $224.20 per share, with a total value of $499,966.00. Following the transaction, the director owned 4,430 shares of the company’s stock, valued at $993,206. This represents a 101.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Uma M. Amuluru sold 1,503 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $233.78, for a total value of $351,371.34. Following the completion of the transaction, the executive vice president directly owned 19,015 shares in the company, valued at $4,445,326.70. This trade represents a 7.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Boeing

Large investors have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC acquired a new stake in Boeing in the 3rd quarter valued at $25,000. Strive Financial Group LLC acquired a new stake in Boeing in the 4th quarter valued at $25,000. CrossGen Wealth LLC acquired a new stake in Boeing in the 4th quarter valued at $26,000. Ares Financial Consulting LLC acquired a new stake in Boeing in the 4th quarter valued at $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Boeing during the fourth quarter valued at about $27,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

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.