Boeing (NYSE:BA) Shares Down 1.5% After Analyst Downgrade

Shares of The Boeing Company (NYSE:BA) traded down 1.5% during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $113.00 to $111.00. Wells Fargo & Company currently has an underweight rating on the stock. Boeing traded as low as $155.27 and last traded at $156.84. 5,268,252 shares changed hands during trading, a decline of 42% from the average session volume of 9,005,995 shares. The stock had previously closed at $159.28.

A number of other research analysts also recently commented on the company. Melius Research set a $204.00 target price on Boeing in a research note on Monday, March 24th. Citigroup boosted their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. Finally, Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.00.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Simon Quick Advisors LLC lifted its position in shares of Boeing by 34.5% during the first quarter. Simon Quick Advisors LLC now owns 5,546 shares of the aircraft producer’s stock worth $946,000 after purchasing an additional 1,422 shares in the last quarter. Ironwood Financial llc increased its stake in shares of Boeing by 25.6% in the 1st quarter. Ironwood Financial llc now owns 2,893 shares of the aircraft producer’s stock valued at $493,000 after buying an additional 589 shares during the period. Columbia Advisory Partners LLC raised its position in shares of Boeing by 40.0% during the first quarter. Columbia Advisory Partners LLC now owns 2,109 shares of the aircraft producer’s stock worth $360,000 after acquiring an additional 603 shares during the last quarter. Integrated Advisors Network LLC increased its position in Boeing by 1.0% in the first quarter. Integrated Advisors Network LLC now owns 17,211 shares of the aircraft producer’s stock worth $2,935,000 after purchasing an additional 178 shares during the period. Finally, Petredis Investment Advisors LLC lifted its position in Boeing by 1.2% during the 1st quarter. Petredis Investment Advisors LLC now owns 20,234 shares of the aircraft producer’s stock valued at $3,451,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 2.3 %

The firm’s 50 day moving average price is $167.65 and its 200-day moving average price is $163.96. The company has a market cap of $116.72 billion, a P/E ratio of -8.49 and a beta of 1.24.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the company posted ($0.47) earnings per share. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.