Boeing (NYSE:BA) Trading Down 1.3% - Should You Sell?

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

Analyst Ratings Changes

A number of analysts have issued reports on BA shares. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Morgan Stanley set a $200.00 target price on shares of Boeing and gave the stock an "equal weight" rating in a report on Thursday, June 12th. Jefferies Financial Group boosted their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Citigroup restated a "buy" rating on shares of Boeing in a report on Thursday, May 22nd. Finally, Cowen restated a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.85.

Boeing Stock Performance

The firm has a market capitalization of $149.60 billion, a P/E ratio of -11.07 and a beta of 1.43. The stock's 50 day simple moving average is $193.38 and its 200 day simple moving average is $178.45.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts' consensus estimates 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. Boeing's revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.13) earnings per share. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,899 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president now owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now owns 13,258 shares in the company, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 in the last three months. Corporate insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the period. Geode Capital Management LLC grew its holdings in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp increased its position in shares of Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock valued at $890,469,000 after purchasing an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Boeing by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after purchasing an additional 19,615 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.