Short Interest in The Boeing Company (NYSE:BA) Decreases By 14.1%

The Boeing Company (NYSE:BA) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 9,290,000 shares, a decline of 14.1% from the March 15th total of 10,810,000 shares. Based on an average trading volume of 10,180,000 shares, the days-to-cover ratio is presently 0.9 days.

Boeing Stock Up 1.4 %

Shares of NYSE BA traded up $2.30 during mid-day trading on Tuesday, hitting $170.12. 5,597,893 shares of the company were exchanged, compared to its average volume of 9,817,830. The stock has a 50 day simple moving average of $193.45 and a 200-day simple moving average of $207.95. Boeing has a 1-year low of $167.53 and a 1-year high of $267.54. The firm has a market cap of $103.80 billion, a price-to-earnings ratio of -45.69, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.75) earnings per share. Analysts anticipate that Boeing will post 0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. United Bank boosted its stake in shares of Boeing by 4.7% during the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after acquiring an additional 226 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Boeing by 1,064.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after buying an additional 777 shares during the period. Panagora Asset Management Inc. grew its holdings in Boeing by 68.0% in the 1st quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after buying an additional 2,879 shares during the period. Prudential PLC purchased a new stake in Boeing in the 1st quarter valued at about $836,000. Finally, Dakota Wealth Management grew its holdings in Boeing by 26.7% in the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 448 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BA. Sanford C. Bernstein lowered their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Benchmark restated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Tuesday, March 26th. Susquehanna reduced their price objective on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. Morgan Stanley reduced their price objective on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Finally, Melius Research restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $233.88.

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.