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

The Boeing Company (NYSE:BA) was the target of some unusual options trading on Tuesday. Stock traders purchased 171,371 call options on the company. This is an increase of 21% compared to the typical volume of 141,183 call options.

Analysts Set New Price Targets

BA has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Finally, Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $190.11.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the third quarter worth approximately $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter worth $33,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the second quarter worth $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 4.6 %

Boeing stock opened at $164.20 on Wednesday. The stock has a 50-day moving average price of $151.69 and a two-hundred day moving average price of $166.22. Boeing has a 12 month low of $137.03 and a 12 month high of $267.54. The company has a market capitalization of $101.51 billion, a PE ratio of -12.72 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the business posted ($3.26) EPS. Boeing’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts predict that Boeing will post -16.18 earnings per share for the current fiscal year.

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.