Boeing (NYSE:BA) Trading Down 0.5% – What’s Next?

The Boeing Company (NYSE:BA) shares were down 0.5% during trading on Tuesday . The stock traded as low as $171.86 and last traded at $172.26. Approximately 3,867,132 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 9,223,098 shares. The stock had previously closed at $173.17.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BA. UBS Group dropped their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Susquehanna reduced their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Up 2.6 %

The company’s fifty day moving average is $153.97 and its 200 day moving average is $166.04. The firm has a market cap of $109.45 billion, a price-to-earnings ratio of -13.72 and a beta of 1.56.

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

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its position in Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after purchasing an additional 38,300 shares during the period. Jennison Associates LLC increased its position in shares of Boeing by 9.9% during the third 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 raised its stake in Boeing by 243.4% during the third 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 last quarter. ING Groep NV acquired a new position in Boeing in the third quarter valued at $11,679,000. Finally, Lazari Capital Management Inc. boosted its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

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.