Boeing (NYSE:BA) Trading Down 0.5% - What's Next?

The Boeing Company (NYSE:BA - Get Free Report)'s share price fell 0.5% during trading on Wednesday . The company traded as low as $177.63 and last traded at $181.03. 1,904,906 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 9,029,034 shares. The stock had previously closed at $182.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BA. Barclays upgraded Boeing from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, January 2nd. Melius upgraded Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. UBS Group increased their price objective on Boeing from $190.00 to $207.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Citigroup raised their price objective on Boeing from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.90.

Boeing Stock Performance

The company has a market capitalization of $137.15 billion, a PE ratio of -9.93 and a beta of 1.24. The stock's 50 day moving average is $164.82 and its 200 day moving average is $165.16.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly 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. During the same period in the previous year, the business earned ($1.13) earnings per share. Boeing's revenue was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Boeing

Several institutional investors have recently modified their holdings of BA. Sierra Ocean LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $26,000. American National Bank & Trust grew its position in 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 acquiring an additional 128 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Boeing during the 4th quarter valued at $27,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing during the fourth quarter worth about $28,000. Finally, HighMark Wealth Management LLC raised its position in Boeing by 121.6% during 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. 64.82% of the stock is currently owned by 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.

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