Boeing (NYSE:BA) Trading Down 0.8% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price fell 0.8% on Monday . The stock traded as low as $170.31 and last traded at $170.59. 1,425,258 shares traded hands during trading, a decline of 82% from the average session volume of 7,836,214 shares. The stock had previously closed at $172.00.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BA shares. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Two equities research 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. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Down 0.5 %

The company has a market cap of $102.78 billion, a P/E ratio of -12.89 and a beta of 1.52. The business’s 50 day moving average is $162.02 and its 200 day moving average is $164.97.

Boeing (NYSE:BA) last posted its quarterly 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 during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the firm posted ($3.26) EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. grew its position in shares of Boeing by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after acquiring an additional 7,739 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Boeing by 10.0% in the second quarter. Envestnet Asset Management Inc. now owns 556,361 shares of the aircraft producer’s stock valued at $101,263,000 after purchasing an additional 50,767 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Boeing by 435.8% during the second quarter. Brown Brothers Harriman & Co. now owns 27,295 shares of the aircraft producer’s stock worth $4,968,000 after purchasing an additional 22,201 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Boeing by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,277,289 shares of the aircraft producer’s stock valued at $232,479,000 after purchasing an additional 98,973 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in Boeing by 11.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 31,252 shares of the aircraft producer’s stock worth $5,688,000 after purchasing an additional 3,101 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.