Boeing (NYSE:BA) Trading Down 0.6% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price was down 0.6% on Monday . The stock traded as low as $138.23 and last traded at $139.29. Approximately 1,893,593 shares were traded during trading, a decline of 79% from the average daily volume of 9,142,176 shares. The stock had previously closed at $140.19.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Finally, Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Up 1.2 %

The firm has a 50-day moving average of $152.53 and a two-hundred day moving average of $168.95. The company has a market capitalization of $90.00 billion, a PE ratio of -11.29 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($3.26) EPS. On average, equities research analysts expect that The Boeing Company will post -16.2 EPS for the current year.

Institutional Trading of Boeing

Several institutional investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the third quarter worth $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the second quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds 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.