Boeing (NYSE:BA) Shares Down 0.3% – Here’s Why

The Boeing Company (NYSE:BA)’s share price traded down 0.3% during trading on Thursday . The company traded as low as $170.31 and last traded at $172.07. 1,406,016 shares changed hands during trading, a decline of 84% from the average session volume of 8,583,545 shares. The stock had previously closed at $172.62.

Analyst Ratings Changes

A number of brokerages have weighed in on BA. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. StockNews.com raised Boeing to a “sell” rating in a report on Wednesday, March 12th. Susquehanna upped their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, UBS Group raised their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $195.68.

Boeing Price Performance

The company has a market cap of $133.75 billion, a P/E ratio of -9.73 and a beta of 1.53. The stock has a 50-day moving average of $172.98 and a 200 day moving average of $163.57.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the company earned ($0.47) EPS. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in BA. AdvisorNet Financial Inc boosted its position in Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after buying an additional 710 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Boeing by 175.6% during the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 2,943 shares in the last quarter. Principal Financial Group Inc. grew its position in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Finally, World Investment Advisors LLC increased its holdings in Boeing by 243.4% in the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 3,814 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.