Boeing (NYSE:BA) Stock Price Down 0.7% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price traded down 0.7% on Friday . The stock traded as low as $149.43 and last traded at $149.98. 2,991,885 shares traded hands during trading, a decline of 67% from the average session volume of 8,978,087 shares. The stock had previously closed at $150.98.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley decreased their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

The firm’s 50 day moving average price is $156.17 and its two-hundred day moving average price is $170.60. The stock has a market cap of $93.77 billion, a PE ratio of -11.63 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) earnings per share. Analysts anticipate that The Boeing Company will post -16.09 earnings per share for the current year.

Institutional Trading of Boeing

Hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in Boeing by 115.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock valued at $2,825,000 after buying an additional 7,848 shares during the period. Empowered Funds LLC grew its stake in Boeing by 44.6% in the first quarter. Empowered Funds LLC now owns 11,940 shares of the aircraft producer’s stock worth $2,304,000 after purchasing an additional 3,680 shares during the period. Wealthspire Advisors LLC increased its stake in shares of Boeing by 81.8% in the 1st quarter. Wealthspire Advisors LLC now owns 14,105 shares of the aircraft producer’s stock worth $2,722,000 after acquiring an additional 6,348 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Boeing by 55.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,813 shares of the aircraft producer’s stock valued at $2,666,000 after purchasing an additional 4,924 shares during the last quarter. Finally, Lipe & Dalton boosted its holdings in Boeing by 7.0% in the first quarter. Lipe & Dalton now owns 33,941 shares of the aircraft producer’s stock worth $6,550,000 after acquiring an additional 2,210 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

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.