Boeing (NYSE:BA) Trading Down 1.2% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price fell 1.2% on Monday . The stock traded as low as $174.64 and last traded at $175.21. 2,706,179 shares were traded during trading, a decline of 71% from the average session volume of 9,340,104 shares. The stock had previously closed at $177.35.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BA. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Robert W. Baird reduced their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Finally, UBS Group reduced their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Performance

The company has a market cap of $109.11 billion, a price-to-earnings ratio of -13.68 and a beta of 1.56. The business has a 50-day simple moving average of $155.10 and a 200-day simple moving average of $165.90.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wealth Alliance Advisory Group LLC boosted its position in Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after buying an additional 60 shares during the last quarter. IMS Capital Management boosted its holdings in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the last quarter. Peoples Financial Services CORP. increased its position in Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after purchasing an additional 67 shares during the period. Banque Cantonale Vaudoise raised its holdings in Boeing by 0.9% during the 2nd quarter. Banque Cantonale Vaudoise now owns 7,678 shares of the aircraft producer’s stock worth $1,398,000 after purchasing an additional 70 shares during the last quarter. Finally, Altus Wealth Group LLC lifted its position in Boeing by 5.7% during the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after purchasing an additional 71 shares during the period. 64.82% of the stock is owned by hedge funds and other 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.