Boeing (NYSE:BA) Shares Down 0.5% - Here's What Happened

The Boeing Company (NYSE:BA - Get Free Report) traded down 0.5% during trading on Wednesday . The stock traded as low as $183.50 and last traded at $185.07. 1,693,769 shares were traded during trading, a decline of 81% from the average session volume of 8,991,999 shares. The stock had previously closed at $185.96.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BA. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Morgan Stanley boosted their price target on shares of Boeing from $175.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and an average price target of $200.90.

Boeing Price Performance

The firm has a market cap of $139.88 billion, a price-to-earnings ratio of -10.18 and a beta of 1.40. The firm's 50 day moving average price is $165.66 and its 200-day moving average price is $166.25.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the previous year, the business posted ($1.13) EPS. The firm's quarterly revenue was up 17.7% on a year-over-year basis. Analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boeing

A number of large investors have recently modified their holdings of BA. Wood Tarver Financial Group LLC grew its position in shares of Boeing by 14.3% during the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after buying an additional 55 shares during the period. Keynote Financial Services LLC grew its holdings in Boeing by 3.8% during the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer's stock worth $273,000 after acquiring an additional 57 shares during the period. Chaney Capital Management Inc. raised its position in shares of Boeing by 2.1% during the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer's stock valued at $508,000 after acquiring an additional 58 shares during the last quarter. Byrne Financial Freedom LLC boosted its position in shares of Boeing by 3.0% in the 1st quarter. Byrne Financial Freedom LLC now owns 1,993 shares of the aircraft producer's stock worth $340,000 after purchasing an additional 58 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in shares of Boeing by 0.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 19,657 shares of the aircraft producer's stock worth $3,578,000 after purchasing an additional 58 shares during the last quarter. 64.82% of the stock is currently 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.

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