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

The Boeing Company (NYSE:BA)’s share price was down 1.5% during mid-day trading on Wednesday . The company traded as low as $141.75 and last traded at $142.96. Approximately 5,019,965 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 9,058,251 shares. The stock had previously closed at $145.17.

Analyst Ratings Changes

BA has been the subject of several recent research reports. Susquehanna reduced their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company cut their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $190.37.

Boeing Stock Down 3.7 %

The company has a fifty day moving average price of $154.49 and a 200 day moving average price of $170.11.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 analysts’ expectations of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that The Boeing Company will post -16.09 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in the company. Lazari Capital Management Inc. raised its holdings in Boeing by 55.7% in the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares in the last quarter. Patten & Patten Inc. TN lifted its holdings in Boeing by 19.8% in the third quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares during the period. Czech National Bank boosted its position in Boeing by 8.4% during the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after acquiring an additional 9,281 shares in the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of Boeing during the 3rd quarter worth approximately $11,237,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Boeing in the 2nd quarter worth approximately $21,405,000. 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.