Boeing (NYSE:BA) Shares Down 1.3% – Here’s Why

Shares of The Boeing Company (NYSE:BA) were down 1.3% during mid-day trading on Friday . The stock traded as low as $152.00 and last traded at $153.48. Approximately 2,780,775 shares were traded during trading, a decline of 69% from the average daily volume of 8,992,650 shares. The stock had previously closed at $155.52.

Analysts Set New Price Targets

BA has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. UBS Group increased their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Susquehanna upped their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Melius upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $196.10.

Boeing Price Performance

The company has a 50-day moving average of $168.68 and a 200 day moving average of $163.94. The company has a market cap of $117.73 billion, a PE ratio of -8.57 and a beta of 1.24.

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

Insiders Place Their Bets

In related news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in Boeing during the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $27,000. American National Bank & Trust raised its stake in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 128 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Boeing in the 4th quarter worth $28,000. Finally, HighMark Wealth Management LLC lifted its position in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares during the period. Institutional investors own 64.82% of the company’s stock.

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.