Boeing (NYSE:BA) Stock Price Down 1.7% After Insider Selling

Key Points

• Boeing shares fell 1.7% to $171.53 after EVP David Raymond sold 2,994 shares for about $524,000, reducing his stake by 7.22%.
• Analyst views were mixed, but the consensus rating remained “Moderate Buy”, with an average price target of $247.88.
• Boeing’s latest quarterly revenue rose 3.9% year over year to $24.19 billion, topping estimates, while adjusted EPS of negative $0.34 missed expectations of negative $0.25.

The Boeing Company (NYSE:BA - Get Free Report) was down 1.7% during trading on Thursday following insider selling activity. The company traded as low as $171.30 and last traded at $171.5310. 5,993,007 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 7,166,953 shares. The stock had previously closed at $174.54.

Specifically, EVP David Raymond sold 2,994 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $174.91, for a total value of $523,680.54. Following the completion of the transaction, the executive vice president directly owned 38,456 shares of the company's stock, valued at $6,726,338.96. This represents a 7.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

BA has been the topic of several recent analyst reports. Jefferies Financial Group downgraded Boeing from a "buy" rating to a "hold" rating in a research note on Wednesday, October 28th. BNP Paribas Exane raised Boeing to a "neutral" rating in a report on Wednesday, October 28th. Wolfe Research upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 24th. Roth Capital cut shares of Boeing to a "neutral" rating in a research note on Wednesday, October 28th. Finally, Scotiabank raised shares of Boeing to an "outperform" rating in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $247.88.

Boeing News Roundup

These are some of the BA news items that stood out recently:

• Neutral Sentiment: A law firm announced an investigation into possible securities-law violations involving Boeing. The announcement does not establish wrongdoing, but adds a potential legal and reputational overhang for investors. Article: Kaplan Fox Announces an Investigation
• Negative Sentiment: Recent reports highlight production delays, labor shortages and 777X setbacks, while October jet deliveries fell from the prior month and year-earlier level. These execution problems may weigh on near-term performance despite Boeing’s large backlog and defense business. Article: Boeing Stock Drops 25.6% in 3 Months Article: Boeing October Jet Deliveries Decline
• Negative Sentiment: Safety inspectors are calling for more contact with the factory floor as Boeing works to change its safety culture. The renewed focus may reinforce concerns about manufacturing oversight and the pace of recovery. Article: Safety Inspectors Call for More Factory-Floor Contact

Boeing Price Performance

The stock has a 50-day moving average of $190.33 and a two-hundred day moving average of $214.25. The firm has a market cap of $135.93 billion, a price-to-earnings ratio of 18.66 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.34 and a debt-to-equity ratio of 6.31.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.09). Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The company had revenue of $24.19 billion for the quarter, compared to analyst estimates of $23.95 billion. During the same quarter in the previous year, the firm posted ($7.47) EPS. Boeing's quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts anticipate that The Boeing Company will post -1.84 EPS for the current year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in shares of Boeing in the second quarter valued at $911,878,000. Bank of New York Mellon Corp acquired a new position in Boeing during the second quarter valued at $747,763,000. Legal & General Group Plc acquired a new position in Boeing during the second quarter valued at $710,816,000. Deutsche Bank AG purchased a new stake in Boeing in the 2nd quarter worth about $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Boeing in the 2nd quarter worth about $441,997,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

About Boeing

The Boeing Company is an aerospace manufacturer that designs, builds and supports commercial airplanes, defense products and space systems. Its commercial aircraft include the 737, 767, 777 and 787 families, which serve passenger and cargo operators around the world. Boeing's defense, space and security business supplies military aircraft, helicopters, weapons, satellites and related systems, as well as services for government customers. Its Boeing Global Services business provides support such as maintenance, parts, training and logistics for commercial and government customers.

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