Boeing (NYSE:BA) Shares Down 0.4% – Here’s Why

The Boeing Company (NYSE:BA)’s share price was down 0.4% during mid-day trading on Thursday . The company traded as low as $157.32 and last traded at $157.72. Approximately 1,446,797 shares traded hands during trading, a decline of 84% from the average daily volume of 9,133,071 shares. The stock had previously closed at $158.28.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. UBS Group reduced their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. 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 research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

The stock’s 50 day moving average is $151.59 and its 200 day moving average is $166.89. The company has a market capitalization of $97.80 billion, a PE ratio of -12.23 and a beta of 1.56.

Boeing (NYSE:BA) last issued its earnings results 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 business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the company posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Trading of Boeing

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