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

The Boeing Company (NYSE:BA) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 9,290,000 shares, a decrease 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 currently 0.9 days.

Boeing Trading Up 1.4 %

BA traded up $2.30 during trading hours on Tuesday, hitting $170.12. The company’s stock had a trading volume of 5,597,893 shares, compared to its average volume of 9,817,830. The business’s 50-day moving average price is $193.45 and its 200-day moving average price is $207.95. The stock has a market cap of $103.80 billion, a price-to-earnings ratio of -45.69, a P/E/G ratio of 115.71 and a beta of 1.52. Boeing has a 12 month low of $167.53 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The firm’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 firm posted ($1.75) earnings per share. On average, analysts forecast that Boeing will post 0.37 earnings per share for the current year.

Analysts Set New Price Targets

BA has been the subject of a number of analyst reports. Citigroup dropped their target price on shares of Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Susquehanna lowered their price objective on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Sanford C. Bernstein decreased their target price on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $233.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Trust Co. of Vermont lifted its holdings in Boeing by 1.0% in the third quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after acquiring an additional 45 shares during the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in Boeing by 2.7% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after acquiring an additional 47 shares during the last quarter. Waverly Advisors LLC lifted its holdings in Boeing by 0.6% in the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock worth $1,527,000 after acquiring an additional 49 shares during the last quarter. WealthPlan Investment Management LLC lifted its holdings in Boeing by 1.0% in the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after acquiring an additional 49 shares during the last quarter. Finally, RB Capital Management LLC lifted its holdings in Boeing by 2.7% in the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock worth $363,000 after acquiring an additional 50 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.