Boeing (NYSE:BA) Trading Down 0.5% – Should You Sell?

The Boeing Company (NYSE:BA)’s share price was down 0.5% during trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Morgan Stanley reduced their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

The stock has a market capitalization of $109.45 billion, a PE ratio of -13.72 and a beta of 1.56. The business’s 50-day moving average price is $153.97 and its 200 day moving average price is $166.04.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted ($3.26) EPS. As a group, equities research analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in shares of 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. Syntax Research Inc. grew its holdings in Boeing by 18.4% in the third quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock worth $716,000 after purchasing an additional 730 shares during the period. Denver PWM LLC increased its stake in shares of Boeing by 728.9% during the third quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock valued at $834,000 after purchasing an additional 4,825 shares in the last quarter. Inspire Trust Co. N.A. lifted its holdings in shares of Boeing by 81.0% during the third quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock valued at $1,596,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other 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.