The Boeing Company (NYSE:BA - Get Free Report) dropped 4.9% on Thursday . The company traded as low as $201.28 and last traded at $203.58. Approximately 18,520,755 shares traded hands during mid-day trading, an increase of 99% from the average daily volume of 9,299,176 shares. The stock had previously closed at $214.00.
Analysts Set New Price Targets
BA has been the subject of a number of research reports. UBS Group boosted their price objective on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Wall Street Zen lowered Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. TD Securities lowered Boeing to a "cautious" rating in a report on Thursday, May 22nd. Finally, Royal Bank of Canada boosted their target price on Boeing from $200.00 to $230.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $209.85.
Read Our Latest Stock Report on BA
Boeing Price Performance
The stock has a market capitalization of $150.96 billion, a PE ratio of -10.93 and a beta of 1.43. The stock has a 50 day moving average of $188.93 and a two-hundred day moving average of $177.11.
Boeing (NYSE:BA - Get Free Report) last posted 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 firm had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.13) earnings per share. As a group, research analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president now directly owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by corporate insiders.
Institutional Trading of Boeing
A number of institutional investors have recently bought and sold shares of BA. Vanguard Group Inc. raised its holdings in shares of Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after acquiring an additional 1,212,327 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 3,452,075 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after acquiring an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock worth $890,469,000 after acquiring an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Boeing by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer's stock worth $715,979,000 after acquiring an additional 19,615 shares during the last quarter. 64.82% of the stock is currently 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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