Boeing (NYSE:BA) Shares Down 1.7% – Time to Sell?

The Boeing Company (NYSE:BA) shares were down 1.7% during mid-day trading on Tuesday . The company traded as low as $146.28 and last traded at $146.50. Approximately 4,257,900 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 9,019,665 shares. The stock had previously closed at $148.96.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BA shares. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company dropped their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Stock Down 1.3 %

The firm has a 50 day simple moving average of $154.03 and a 200-day simple moving average of $169.89. The stock has a market cap of $85.40 billion, a P/E ratio of -10.91 and a beta of 1.57.

Boeing (NYSE:BA) last announced its 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 the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business posted ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts anticipate that The Boeing Company will post -16.09 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of BA. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the 3rd quarter worth about $28,000. Cedar Wealth Management LLC bought a new stake in Boeing during the 3rd quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the 2nd quarter worth approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

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.