Boeing (NYSE:BA) Stock Rating Lowered by Sanford C. Bernstein

Sanford C. Bernstein lowered shares of Boeing (NYSE:BA) from an outperform rating to a market perform rating in a report published on Wednesday, MarketBeat Ratings reports. Sanford C. Bernstein currently has $169.00 price target on the aircraft producer’s stock, down from their previous price target of $195.00.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lowered their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $190.42.

Boeing Trading Up 3.5 %

NYSE:BA opened at $154.59 on Wednesday. The firm has a market capitalization of $95.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.57. The firm’s fifty day simple moving average is $157.46 and its 200 day simple moving average is $171.00. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results 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 company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned ($3.26) earnings per share. On average, analysts predict that Boeing will post -16.22 earnings per share for the current year.

Institutional Trading of Boeing

Large investors have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC raised its holdings in Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. raised its holdings in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after acquiring an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 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.