Boeing (NYSE:BA) Lowered to Hold at DZ Bank

DZ Bank downgraded shares of Boeing (NYSE:BA) from a buy rating to a hold rating in a research note published on Tuesday morning, Marketbeat reports. DZ Bank currently has $152.00 price objective on the aircraft producer’s stock.

BA has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boeing from $225.00 to $195.00 and set a buy rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company reduced their price target on Boeing from $110.00 to $109.00 and set an underweight rating on the stock in a research note on Monday. TD Cowen lowered their price objective on Boeing from $200.00 to $190.00 and set a buy rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced their target price on Boeing from $235.00 to $195.00 and set an overweight rating on the stock in a research report on Monday. Finally, Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a buy rating for the company in a report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $201.00.

Boeing Stock Performance

Shares of NYSE:BA opened at $152.45 on Tuesday. The business’s fifty day moving average price is $161.80 and its two-hundred day moving average price is $173.13. The stock has a market cap of $93.59 billion, a PE ratio of -42.94 and a beta of 1.57. Boeing has a one year low of $146.02 and a one year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of the stock. Global Assets Advisory LLC acquired a new stake in Boeing in the first quarter valued at approximately $272,312,000. Vanguard Group Inc. boosted its stake in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Van ECK Associates Corp grew its holdings in Boeing by 9,626.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares in the last quarter. Wulff Hansen & CO. increased its stake in 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 buying an additional 960,993 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares in 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.