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

The Boeing Company (NYSE:BA)’s share price fell 0.3% during mid-day trading on Thursday . The stock traded as low as $169.61 and last traded at $172.04. 5,102,402 shares were traded during mid-day trading, a decline of 45% from the average session volume of 9,248,348 shares. The stock had previously closed at $172.51.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BA. Wells Fargo & Company decreased their price target on shares of 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 target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Finally, Morgan Stanley decreased their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have issued 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Price Performance

The firm has a market capitalization of $106.36 billion, a P/E ratio of -13.34 and a beta of 1.52. The business’s 50-day moving average is $160.58 and its 200 day moving average is $165.32.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the company posted ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -16.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently bought and sold shares of the company. Newport Trust Company LLC boosted its stake in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. State Street Corp lifted its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its stake in Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

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.