Boeing (NYSE:BA) Trading Down 1.4%

Shares of The Boeing Company (NYSE:BA) fell 1.4% on Monday . The stock traded as low as $179.62 and last traded at $179.67. 1,173,169 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,275,008 shares. The stock had previously closed at $182.31.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BA. JPMorgan Chase & Co. lowered their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Citigroup lowered their target price on Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Robert W. Baird reduced their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, May 15th. Finally, Barclays reduced their price target on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $220.89.

Boeing Trading Down 0.7 %

The company has a 50-day moving average of $181.40 and a 200-day moving average of $191.55. The company has a market capitalization of $113.47 billion, a price-to-earnings ratio of -52.37 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. On average, research analysts expect that The Boeing Company will post -1.75 EPS for the current year.

Institutional Trading of Boeing

A number of hedge funds have recently modified their holdings of the stock. Welch Group LLC boosted its stake in shares of Boeing by 24.1% in the second quarter. Welch Group LLC now owns 2,619 shares of the aircraft producer’s stock worth $477,000 after buying an additional 509 shares during the last quarter. DB Fitzpatrick & Co Inc boosted its stake in shares of Boeing by 7.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 8,557 shares of the aircraft producer’s stock worth $1,557,000 after buying an additional 607 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Boeing by 6.9% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 3,676 shares of the aircraft producer’s stock worth $663,000 after buying an additional 236 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of Boeing by 1.2% in the second quarter. Cigna Investments Inc. New now owns 6,071 shares of the aircraft producer’s stock worth $1,105,000 after buying an additional 73 shares during the last quarter. Finally, Midwest Financial Group LLC boosted its stake in shares of Boeing by 3.3% in the second quarter. Midwest Financial Group LLC now owns 8,697 shares of the aircraft producer’s stock worth $1,583,000 after buying an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.