Boeing (NYSE:BA) Stock Price Down 0.8% – Here’s Why

The Boeing Company (NYSE:BA)’s share price dropped 0.8% during mid-day trading on Monday . The company traded as low as $170.31 and last traded at $170.59. Approximately 1,425,258 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 7,836,214 shares. The stock had previously closed at $172.00.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BA shares. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Down 1.2 %

The stock has a fifty day moving average price of $161.39 and a two-hundred day moving average price of $165.16. The company has a market cap of $105.01 billion, a price-to-earnings ratio of -13.17 and a beta of 1.52.

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

Institutional Investors Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. Van ECK Associates Corp raised its position in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC increased its stake in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. raised its position in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. Wulff Hansen & CO. lifted its stake in Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.