Boeing (NYSE:BA) Stock Price Down 0.4% – Time to Sell?

The Boeing Company (NYSE:BA) dropped 0.4% during trading on Wednesday . The company traded as low as $169.61 and last traded at $171.80. Approximately 1,569,275 shares changed hands during trading, a decline of 82% from the average daily volume of 8,506,894 shares. The stock had previously closed at $172.51.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BA. Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Finally, Susquehanna decreased their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.21.

Boeing Price Performance

The stock’s 50-day moving average is $161.39 and its 200-day moving average is $165.32. The stock has a market cap of $106.38 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52.

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

Institutional Investors Weigh In On Boeing

Several large investors have recently made changes to their positions in the business. Newport Trust Company LLC boosted its position 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 worth $5,758,830,000 after buying an additional 388,633 shares during the period. State Street Corp lifted its position in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA grew its position in 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. Finally, Jennison Associates LLC raised 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 purchasing 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.