Boeing (NYSE:BA) Trading Down 2.4% – Time to Sell?

The Boeing Company (NYSE:BAGet Free Report) traded down 2.4% on Tuesday . The stock traded as low as $218.90 and last traded at $219.6490. 7,511,277 shares were traded during mid-day trading, an increase of 4% from the average session volume of 7,240,551 shares. The stock had previously closed at $225.08.

Trending Headlines about Boeing

Here are the key news stories impacting Boeing this week:

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Boeing from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Royal Bank Of Canada increased their price target on Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. UBS Group increased their price target on Boeing from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. increased their price objective on Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Finally, Citigroup dropped their price objective on Boeing from $290.00 to $256.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.35.

Get Our Latest Research Report on Boeing

Boeing Stock Performance

The company has a market cap of $172.50 billion, a P/E ratio of 109.28 and a beta of 1.13. The firm has a 50 day moving average of $218.88 and a 200-day moving average of $216.73. The company has a quick ratio of 0.40, a current ratio of 1.19 and a debt-to-equity ratio of 8.37.

Boeing (NYSE:BAGet Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $10.32. The firm had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $22.41 billion. During the same period last year, the company earned ($5.90) EPS. The firm’s revenue for the quarter was up 57.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post -0.14 EPS for the current fiscal year.

Insider Transactions at Boeing

In related news, EVP Howard E. Mckenzie sold 10,497 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $233.99, for a total value of $2,456,193.03. Following the transaction, the executive vice president owned 14,692 shares of the company’s stock, valued at $3,437,781.08. This represents a 41.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer J. Buckley bought 2,230 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $224.20 per share, for a total transaction of $499,966.00. Following the transaction, the director directly owned 4,430 shares in the company, valued at approximately $993,206. This represents a 101.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 21,012 shares of company stock worth $4,980,687 in the last ninety days. 0.10% of the stock is owned by company insiders.

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Purus Wealth Management LLC boosted its position in Boeing by 3.6% during the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer’s stock valued at $256,000 after acquiring an additional 41 shares in the last quarter. West Wealth Group LLC boosted its position in Boeing by 0.6% during the 4th quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer’s stock valued at $1,581,000 after acquiring an additional 42 shares in the last quarter. First Heartland Consultants Inc. boosted its position in Boeing by 1.1% during the 4th quarter. First Heartland Consultants Inc. now owns 4,062 shares of the aircraft producer’s stock valued at $882,000 after acquiring an additional 43 shares in the last quarter. XML Financial LLC boosted its position in Boeing by 0.5% during the 4th quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer’s stock valued at $1,933,000 after acquiring an additional 43 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its position in Boeing by 1.1% during the 4th quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer’s stock valued at $874,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

About Boeing

(Get Free Report)

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

Read More

Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.