Boeing (NYSE:BA) Stock Price Down 1.7% on Insider Selling

Shares of The Boeing Company (NYSE:BA) were down 1.7% during trading on Thursday after an insider sold shares in the company. The company traded as low as $171.30 and last traded at $171.5310. Approximately 5,993,007 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 7,166,953 shares. The stock had previously closed at $174.54.

Specifically, EVP David Raymond sold 2,994 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $174.91, for a total transaction of $523,680.54. Following the completion of the sale, the executive vice president directly owned 38,456 shares in the company, valued at approximately $6,726,338.96. This trade represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

BA has been the topic of several research reports. Barclays dropped their price objective on shares of Boeing from $300.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research note on Tuesday, August 11th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price target on shares of Boeing in a report on Monday, October 26th. UBS Group lowered their price target on shares of Boeing from $275.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Finally, Oppenheimer downgraded shares of Boeing to a “market perform” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.88.

Boeing News Summary

Investors following BA have been watching these news items:

• Neutral Sentiment: A law firm announced an investigation into possible securities-law violations involving Boeing. The announcement does not establish wrongdoing, but adds a potential legal and reputational overhang for investors. Article: Kaplan Fox Announces an Investigation
• Negative Sentiment: Recent reports highlight production delays, labor shortages and 777X setbacks, while October jet deliveries fell from the prior month and year-earlier level. These execution problems may weigh on near-term performance despite Boeing’s large backlog and defense business. Article: Boeing Stock Drops 25.6% in 3 Months Article: Boeing October Jet Deliveries Decline
• Negative Sentiment: Safety inspectors are calling for more contact with the factory floor as Boeing works to change its safety culture. The renewed focus may reinforce concerns about manufacturing oversight and the pace of recovery. Article: Safety Inspectors Call for More Factory-Floor Contact

Boeing Price Performance

The company has a quick ratio of 0.34, a current ratio of 1.13 and a debt-to-equity ratio of 6.31. The stock has a market capitalization of $135.93 billion, a price-to-earnings ratio of 18.66 and a beta of 1.34. The company’s 50-day simple moving average is $190.33 and its 200 day simple moving average is $214.25.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.09). Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. The company had revenue of $24.19 billion for the quarter, compared to the consensus estimate of $23.95 billion. During the same quarter last year, the business earned ($7.47) earnings per share. Boeing’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that The Boeing Company will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Highland Investment Advisors LLC acquired a new stake in Boeing in the 2nd quarter worth approximately $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Boeing in the second quarter valued at approximately $27,000. Retirement Wealth Solutions LLC lifted its stake in shares of Boeing by 3,575.0% in the third quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer’s stock worth $27,000 after buying an additional 143 shares during the last quarter. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Boeing in the third quarter worth $28,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Boeing in the second quarter worth $29,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing’s defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.