Boeing (NYSE:BA) Shares Down 1.4% – What’s Next?

Shares of The Boeing Company (NYSE:BA) dropped 1.4% on Wednesday . The company traded as low as $197.40 and last traded at $202.4120. Approximately 13,773,819 shares traded hands during trading, an increase of 65% from the average daily volume of 8,355,285 shares. The stock had previously closed at $205.38.

Analyst Ratings Changes

BA has been the subject of several analyst reports. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and boosted their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Susquehanna cut their price target on Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research note on Wednesday, November 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Boeing in a research report on Monday, September 29th. Finally, BNP Paribas set a $150.00 price objective on Boeing in a report on Tuesday, November 18th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $232.09.

Boeing Stock Down 1.4%

The firm has a 50-day simple moving average of $205.12 and a 200 day simple moving average of $214.28. The company has a market cap of $153.85 billion, a price-to-earnings ratio of -14.80 and a beta of 1.18.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. During the same quarter in the prior year, the firm earned ($10.44) earnings per share. The business’s revenue was up 30.4% compared to the same quarter last year. As a group, research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the sale, the executive vice president directly owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dana S. Deasy bought 554 shares of the stock in a transaction on Monday, November 24th. The stock was bought at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares in the company, valued at approximately $5,087,704.96. The trade was a 1.99% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Institutional investors have recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in Boeing during the fourth quarter worth about $201,000. Scotia Capital Inc. boosted its holdings in Boeing by 11.4% in the 1st quarter. Scotia Capital Inc. now owns 24,919 shares of the aircraft producer’s stock valued at $4,250,000 after purchasing an additional 2,557 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Boeing during the 1st quarter worth approximately $94,000. IPG Investment Advisors LLC raised its stake in shares of Boeing by 10.3% during the 1st quarter. IPG Investment Advisors LLC now owns 1,390 shares of the aircraft producer’s stock worth $237,000 after buying an additional 130 shares in the last quarter. Finally, Plan Group Financial LLC purchased a new position in shares of Boeing during the 1st quarter worth approximately $251,000. 64.82% of the stock is owned by institutional investors and hedge funds.

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.