Boeing (NYSE:BA) Stock Price Down 0.9% on Analyst Downgrade

The Boeing Company (NYSE:BA) shares dropped 0.9% during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $195.00 to $190.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Boeing traded as low as $149.80 and last traded at $151.78. Approximately 2,796,249 shares changed hands during trading, a decline of 70% from the average daily volume of 9,176,895 shares. The stock had previously closed at $153.10.

BA has been the topic of several other reports. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Hold” and a consensus price target of $190.11.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently bought and sold shares of BA. Van ECK Associates Corp lifted its stake in Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Boeing by 289.8% during 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 buying an additional 1,251,165 shares during the last quarter. Wulff Hansen & CO. grew its holdings in Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after buying an additional 960,993 shares in the last quarter. State Street Corp increased its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Down 0.9 %

The business has a 50-day moving average price of $151.65 and a 200 day moving average price of $168.08. The stock has a market capitalization of $93.83 billion, a P/E ratio of -11.77 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company posted ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

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.