The Boeing Company (NYSE:BA - Get Free Report)'s stock price dropped 1.7% on Monday . The stock traded as low as $210.48 and last traded at $210.84. Approximately 2,418,461 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 9,445,474 shares. The stock had previously closed at $214.55.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Melius Research set a $204.00 price objective on shares of Boeing in a research report on Monday, March 24th. Benchmark lowered their price target on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. TD Securities cut Boeing to a "cautious" rating in a report on Thursday, May 22nd. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a research report on Friday. Finally, UBS Group upped their target price on Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.77.
Get Our Latest Analysis on Boeing
Boeing Stock Performance
The stock has a fifty day moving average of $197.85 and a 200 day moving average of $180.07. The company has a market capitalization of $157.33 billion, a PE ratio of -11.64 and a beta of 1.43.
Boeing (NYSE:BA - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $19.57 billion. The business's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.13) earnings per share. As a group, equities analysts predict that The Boeing Company will post -2.58 EPS for the current year.
Insider Buying and Selling at Boeing
In other news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on 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 transaction, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,744 shares of company stock worth $1,511,370 in the last quarter. 0.09% of the stock is owned by corporate insiders.
Institutional Trading of Boeing
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in Boeing in the 4th quarter worth about $201,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Boeing in the fourth quarter valued at about $7,837,000. SVB Wealth LLC purchased a new stake in Boeing in the fourth quarter worth about $2,052,000. US Bancorp DE boosted its stake in shares of Boeing by 6.0% during the fourth quarter. US Bancorp DE now owns 246,545 shares of the aircraft producer's stock valued at $43,638,000 after purchasing an additional 13,896 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in Boeing by 32.9% in the fourth quarter. Metis Global Partners LLC now owns 24,854 shares of the aircraft producer's stock worth $4,399,000 after buying an additional 6,153 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
About Boeing
(
Get Free Report)
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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