Boeing (NYSE:BA) Trading Down 2.8% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price dropped 2.8% on Tuesday . The company traded as low as $200.02 and last traded at $200.5360. Approximately 9,063,389 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 8,360,304 shares. The stock had previously closed at $206.27.

Analyst Ratings Changes

BA has been the subject of several recent analyst reports. Loop Capital set a $223.00 price objective on shares of Boeing in a report on Monday, November 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $267.00 price target on shares of Boeing in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. BNP Paribas set a $150.00 price objective on Boeing in a research note on Tuesday, November 18th. Finally, Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $232.09.

Boeing Stock Down 2.8%

The business’s 50 day simple moving average is $204.03 and its 200 day simple moving average is $214.23. The company has a market capitalization of $152.43 billion, a PE ratio of -14.66 and a beta of 1.18.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period in the previous year, the business posted ($10.44) EPS. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Dana S. Deasy acquired 554 shares of Boeing stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the completion of the purchase, the senior vice president owned 28,442 shares in the company, valued at approximately $5,087,704.96. This represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. purchased a new stake in Boeing in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing during the third quarter worth $25,000. Piscataqua Savings Bank boosted its position in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new position in Boeing in the third quarter valued at about $32,000. Finally, Davis Capital Management acquired a new position in Boeing in the 3rd quarter worth about $33,000. 64.82% of the stock is owned by hedge funds and other 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.