Boeing (NYSE:BA) Shares Down 2.2%

The Boeing Company (NYSE:BA) was down 2.2% during mid-day trading on Friday . The stock traded as low as $158.35 and last traded at $159.12. Approximately 2,039,336 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 7,827,106 shares. The stock had previously closed at $162.77.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BA shares. Sanford C. Bernstein reduced their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Boeing Stock Performance

The stock has a market capitalization of $96.75 billion, a price-to-earnings ratio of -45.67 and a beta of 1.57. The firm’s fifty day simple moving average is $174.66 and its 200 day simple moving average is $179.69.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the business earned ($0.82) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

Institutional Trading of Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing in the fourth quarter valued at $26,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter valued at $33,000. Vima LLC bought a new position in shares of Boeing in the fourth quarter valued at $34,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing in the second quarter valued at $34,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.