The Boeing Company (NYSE:BA) Sees Large Increase in Short Interest

The Boeing Company (NYSE:BA) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 22,550,000 shares, an increase of 19.4% from the October 31st total of 18,890,000 shares. Based on an average daily volume of 12,370,000 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $190.11.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently made changes to their positions in BA. Van ECK Associates Corp boosted its holdings in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC boosted its stake in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. Franklin Resources Inc. grew its holdings in shares of Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, State Street Corp lifted its holdings in shares of Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 2.0 %

BA opened at $155.44 on Friday. The firm’s 50 day moving average is $151.48 and its 200-day moving average is $167.41. Boeing has a 52-week low of $137.03 and a 52-week high of $267.54. The firm has a market capitalization of $96.09 billion, a P/E ratio of -12.05 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) earnings per share. Boeing’s revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that Boeing will post -16.19 earnings per share for the current fiscal year.

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.