Today’s Price Action: Can Boeing Co’s Tomorrow be Different? The Stock Just Broke Its High

Today's Price Action: Can Boeing Co's Tomorrow be Different? The Stock Just Broke Its High

The stock of Boeing Co (NYSE:BA) hit a new 52-week high and has $156.18 target or 4.00% above today’s $150.17 share price. The 9 months bullish chart indicates low risk for the $94.26B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $156.18 price target is reached, the company will be worth $3.77 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.32M shares traded hands. Boeing Co (NYSE:BA) has risen 14.36% since April 21, 2016 and is uptrending. It has outperformed by 9.04% the S&P500.

Analysts await Boeing Co (NYSE:BA) to report earnings on January, 25. They expect $2.32 EPS, up 45.00% or $0.72 from last year’s $1.6 per share. BA’s profit will be $1.46B for 16.18 P/E if the $2.32 EPS becomes a reality. After $3.51 actual EPS reported by Boeing Co for the previous quarter, Wall Street now forecasts -33.90% negative EPS growth.

Boeing Co (NYSE:BA) Ratings Coverage

Out of 14 analysts covering Boeing (NYSE:BA), 7 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 50% are positive. Boeing has been the topic of 24 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, November 2 by Standpoint Research. The rating was maintained by RBC Capital Markets on Thursday, April 28 with “Sector Perform”. As per Thursday, January 14, the company rating was upgraded by Standpoint Research. The firm earned “Sell” rating on Wednesday, October 26 by Standpoint Research. The company was initiated on Thursday, June 23 by Morgan Stanley. The firm has “Market Perform” rating by Wells Fargo given on Friday, December 18. The firm earned “Overweight” rating on Thursday, October 6 by Barclays Capital. The rating was downgraded by JP Morgan to “Neutral” on Friday, February 12. The firm has “Neutral” rating by Buckingham Research given on Thursday, February 18. As per Wednesday, August 26, the company rating was initiated by Standpoint Research.

According to Zacks Investment Research, “The Boeing Company is one of the world’s major aerospace firms. The company operates in three principal segments: commercial airplanes; military aircraft and missiles; and space and communications.”

Insitutional Activity: The institutional sentiment increased to 0.9 in 2016 Q2. Its up 0.19, from 0.71 in 2016Q1. The ratio improved, as 88 funds sold all Boeing Co shares owned while 523 reduced positions. 59 funds bought stakes while 373 increased positions. They now own 456.77 million shares or 9.02% less from 502.06 million shares in 2016Q1.
Putnam Investments Ltd Liability Corp, a Massachusetts-based fund reported 623,414 shares. Ahl Partners Limited Liability Partnership has invested 0.1% of its portfolio in Boeing Co (NYSE:BA). Braver Wealth Limited Liability Com holds 0.63% or 28,544 shares in its portfolio. Scotia Incorporated has 95,863 shares for 0.25% of their US portfolio. Beese Fulmer Inv Mgmt Inc accumulated 1.32% or 35,902 shares. Robeco Institutional Asset Mgmt Bv holds 0.02% of its portfolio in Boeing Co (NYSE:BA) for 16,054 shares. Mckinley Ltd Limited Liability Company Delaware accumulated 0% or 140 shares. Jolley Asset Management Ltd Liability holds 0.04% of its portfolio in Boeing Co (NYSE:BA) for 375 shares. Moreover, Lafleur And Godfrey Ltd Limited Liability Company has 0.84% invested in Boeing Co (NYSE:BA) for 21,903 shares. Hollencrest Secs Lc accumulated 0.16% or 7,977 shares. Cambridge last reported 0.14% of its portfolio in the stock. Fincl Advisory Service, a Kansas-based fund reported 2,051 shares. Grandfield And Dodd Limited Liability has invested 0.05% of its portfolio in Boeing Co (NYSE:BA). Macquarie Gp Limited has invested 0.02% of its portfolio in Boeing Co (NYSE:BA). Davidson And Garrard Inc last reported 0.93% of its portfolio in the stock.

Insider Transactions: Since August 1, 2016, the stock had 1 buy, and 7 selling transactions for $45.29 million net activity. $250,508 worth of shares were bought by STEPHENSON RANDALL L on Monday, August 1. Smith Gregory D sold 20,000 shares worth $2.87 million. $1.88 million worth of Boeing Co (NYSE:BA) was sold by Sands Diana L on Monday, August 1. Caret Leanne G had sold 17,345 shares worth $2.47M. Shares for $28.60M were sold by LUTTIG J MICHAEL. The insider Verbeck Robert E sold $519,008. Another trade for 14,031 shares valued at $1.96M was made by Conner Raymond L. on Friday, November 4.

More notable recent Boeing Co (NYSE:BA) news were published by: Nasdaq.com which released: “Boeing Co. Gets Serious About Services” on November 23, 2016, also Bloomberg.com with their article: “Boeing Vows to Enhance Cash Bounty Even If 777 Output Gets Cut” published on October 26, 2016, Latimes.com published: “Boeing will move 1600 Huntington Beach jobs to Los Angeles County” on November 15, 2016. More interesting news about Boeing Co (NYSE:BA) were released by: Fool.com and their article: “5 Things Boeing Co. Management Wants You to Know” published on November 01, 2016 as well as 247Wallst.com‘s news article titled: “Boeing’s 10 Largest Customers” with publication date: November 19, 2016.

BA Company Profile

The Boeing Company, incorporated on July 19, 1934, is an aerospace firm. The Firm operates in five divisions: Commercial airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Company’s unallocated activities are Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG). The Company’s EO&T provides Boeing with technical and functional capabilities, which include information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management.

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