Boeing (NYSE:BA) Shares Down 1.5% – Here’s What Happened

The Boeing Company (NYSE:BA) shares were down 1.5% on Tuesday . The stock traded as low as $167.79 and last traded at $168.07. Approximately 1,654,736 shares changed hands during trading, a decline of 78% from the average daily volume of 7,644,253 shares. The stock had previously closed at $170.57.

Analysts Set New Price Targets

Several research firms recently issued reports on BA. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. UBS Group lowered their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Jefferies Financial Group lowered their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Up 1.6 %

The company has a market capitalization of $104.42 billion, a PE ratio of -13.09 and a beta of 1.52. The firm has a 50-day moving average of $162.40 and a two-hundred day moving average of $164.98.

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 the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.26) earnings per share. On average, equities research analysts expect that The Boeing Company will post -16.43 EPS for the current year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Boeing during the fourth quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in Boeing in the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing during the third quarter worth about $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the second quarter valued at approximately $33,000. Finally, Planning Capital Management Corp grew its holdings in shares of Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 289 shares in the last quarter. Hedge funds and other institutional investors 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.