Boeing (NYSE:BA) Stock Price Down 2.4% - What's Next?

The Boeing Company (NYSE:BA - Get Free Report)'s share price dropped 2.4% on Friday . The stock traded as low as $195.28 and last traded at $198.77. Approximately 7,567,649 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 9,353,638 shares. The stock had previously closed at $203.75.

Wall Street Analysts Forecast Growth

BA has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on shares of Boeing from $200.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday. Jefferies Financial Group lifted their price objective on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Melius upgraded shares of Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. Citigroup reiterated a "buy" rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company reiterated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of "Moderate Buy" and an average price target of $209.85.

Boeing Trading Down 1.7%

The stock's 50-day moving average is $188.93 and its 200-day moving average is $176.77. The firm has a market capitalization of $150.96 billion, a price-to-earnings ratio of -10.93 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. Boeing's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.13) earnings per share. On average, equities research analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares of the company's stock, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares in the company, valued at $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,744 shares of company stock worth $1,511,370 in the last three months. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boeing

Institutional investors have recently added to or reduced their stakes in the business. Sierra Ocean LLC bought a new stake in Boeing during the 4th quarter worth approximately $26,000. American National Bank & Trust boosted its stake in shares of Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. REAP Financial Group LLC boosted its stake in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Finally, Anfield Capital Management LLC boosted its stake in shares of Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 95 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

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.