Boeing (NYSE:BA) Trading Down 0.3% – Time to Sell?

The Boeing Company (NYSE:BA) shares dropped 0.3% during mid-day trading on Thursday . The stock traded as low as $169.61 and last traded at $172.04. Approximately 5,102,402 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 9,248,348 shares. The stock had previously closed at $172.51.

Analyst Upgrades and Downgrades

BA has been the topic of several research reports. Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Robert W. Baird lowered their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Performance

The stock has a market capitalization of $106.38 billion, a P/E ratio of -13.34 and a beta of 1.52. The firm has a 50-day moving average price of $161.39 and a 200 day moving average price of $165.32.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($3.26) EPS. On average, equities analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently bought and sold shares of BA. Rockefeller Capital Management L.P. lifted its holdings in Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the period. Principal Financial Group Inc. lifted its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the period. Jennison Associates LLC lifted its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. World Investment Advisors LLC lifted its holdings in Boeing by 243.4% in the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after buying an additional 3,814 shares during the period. Finally, ING Groep NV purchased a new stake in Boeing in the 3rd quarter worth approximately $11,679,000. 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.