Boeing (NYSE:BA) Stock Price Down 1.3% - Here's What Happened

The Boeing Company (NYSE:BA - Get Free Report)'s share price dropped 1.3% on Thursday . The company traded as low as $196.80 and last traded at $197.62. Approximately 7,910,147 shares changed hands during trading, a decline of 16% from the average daily volume of 9,444,273 shares. The stock had previously closed at $200.26.

Analyst Upgrades and Downgrades

Several research firms have commented on BA. TD Securities lowered Boeing to a "cautious" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $181.00 to $218.00 in a research report on Monday, April 28th. Benchmark lowered their price objective on shares of Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, Cowen reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus price target of $209.85.

Boeing Price Performance

The firm has a market capitalization of $149.01 billion, a PE ratio of -11.03 and a beta of 1.43. The firm has a fifty day moving average price of $191.71 and a 200 day moving average price of $177.73.

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

Insider Buying and Selling

In related news, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now directly owns 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. Company insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new stake in shares of Boeing during the fourth quarter worth $26,000. American National Bank & Trust raised its stake in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares in the last quarter. REAP Financial Group LLC raised its stake in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Anfield Capital Management LLC lifted its holdings in shares of Boeing by 113.1% during the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after buying an additional 95 shares during the last quarter. Finally, Dogwood Wealth Management LLC grew its stake in shares of Boeing by 167.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

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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