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

Shares of The Boeing Company (NYSE:BA) were down 0.3% during mid-day trading on Thursday . The company traded as low as $169.61 and last traded at $172.04. Approximately 5,102,402 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 9,248,348 shares. The stock had previously closed at $172.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BA shares. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. UBS Group decreased their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

The firm has a market capitalization of $106.36 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52. The business has a fifty day moving average price of $160.58 and a 200 day moving average price of $165.32.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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. During the same quarter last year, the firm earned ($3.26) earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. On average, analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several large investors have recently made changes to their positions in the company. Newport Trust Company LLC increased its stake in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the period. State Street Corp increased its stake in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the period. Geode Capital Management LLC increased its stake in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after acquiring an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Boeing by 1.4% during 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 during the period. Finally, Jennison Associates LLC increased its stake in shares of Boeing by 9.9% during 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 acquiring an additional 602,143 shares during the period. Institutional investors and hedge funds 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.