Boeing (NYSE:BA) Stock Price Down 1.4% - Here's What Happened

The Boeing Company (NYSE:BA - Get Free Report) shares were down 1.4% during mid-day trading on Wednesday . The stock traded as low as $204.85 and last traded at $204.68. Approximately 1,398,133 shares were traded during trading, a decline of 85% from the average daily volume of 9,181,184 shares. The stock had previously closed at $207.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BA shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research report on Thursday. TD Securities downgraded shares of Boeing to a "cautious" rating in a research report on Thursday. Cowen reiterated a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. UBS Group boosted their price target on shares of Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Boeing currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.35.

Boeing Stock Down 0.5%

The company has a market cap of $152.68 billion, a price-to-earnings ratio of -11.05 and a beta of 1.41. The stock has a fifty day moving average price of $176.17 and a two-hundred day moving average price of $170.49.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS 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 company earned ($1.13) earnings per share. The business's revenue was up 17.7% on a year-over-year basis. Analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

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

Institutional Investors Weigh In On Boeing

A number of large investors have recently made changes to their positions in the business. Amundi raised its stake in Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock valued at $268,862,000 after buying an additional 1,292,417 shares during the last quarter. KKM Financial LLC boosted its stake in shares of Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer's stock worth $2,720,000 after acquiring an additional 5,175 shares during the period. Grant Private Wealth Management Inc bought a new position in Boeing during the fourth quarter valued at approximately $903,000. Tandem Capital Management Corp ADV raised its position in Boeing by 65.2% during the fourth quarter. Tandem Capital Management Corp ADV now owns 13,815 shares of the aircraft producer's stock valued at $2,445,000 after purchasing an additional 5,451 shares during the period. Finally, Winslow Asset Management Inc. raised its position in Boeing by 8.2% during the fourth quarter. Winslow Asset Management Inc. now owns 40,761 shares of the aircraft producer's stock valued at $7,215,000 after purchasing an additional 3,096 shares during the period. 64.82% of the stock is currently 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.