Boeing (NYSE:BA) Stock Price Down 0.3% – Here’s What Happened

The Boeing Company (NYSE:BA) shares traded down 0.3% during mid-day trading on Thursday . The company traded as low as $170.31 and last traded at $172.07. 1,406,016 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 8,583,545 shares. The stock had previously closed at $172.62.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BA. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Citigroup lifted their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their price objective on Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

Boeing Price Performance

The company has a market capitalization of $129.44 billion, a price-to-earnings ratio of -9.43 and a beta of 1.53. The firm has a 50-day moving average price of $172.84 and a two-hundred day moving average price of $163.47.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the business earned ($0.47) earnings per share. On average, equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently bought and sold shares of the stock. AdvisorNet Financial Inc raised its holdings in Boeing by 54.2% during the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares in the last quarter. Carnegie Investment Counsel raised its holdings in Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the period. 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.