Boeing (NYSE:BA) Trading Down 2.2%

Shares of The Boeing Company (NYSE:BA) dropped 2.2% during trading on Friday . The stock traded as low as $158.35 and last traded at $159.12. Approximately 2,039,336 shares changed hands during trading, a decline of 74% from the average daily volume of 7,827,106 shares. The stock had previously closed at $162.77.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Bank of America increased their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Wells Fargo & Company restated an “underweight” rating and issued a $119.00 price target (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Finally, UBS Group dropped their target price on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Trading Down 3.7 %

The company has a market capitalization of $96.60 billion, a P/E ratio of -44.16 and a beta of 1.57. The company has a 50 day moving average price of $174.10 and a 200 day moving average price of $179.23.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Newport Trust Company LLC increased its position in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the period. Capital Research Global Investors lifted its holdings in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. 64.82% of the stock is owned by 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.