Boeing (NYSE:BA) Trading Down 0% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price was down 0% on Wednesday . The company traded as low as $173.88 and last traded at $175.55. Approximately 1,726,580 shares changed hands during trading, a decline of 78% from the average daily volume of 7,686,167 shares. The stock had previously closed at $175.56.

Analyst Ratings Changes

Several analysts recently issued reports on BA shares. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Finally, Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have issued 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.11.

Boeing Trading Down 1.4 %

The company has a market cap of $108.77 billion, a PE ratio of -13.64 and a beta of 1.52. The firm has a fifty day moving average of $165.70 and a two-hundred day moving average of $164.62.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -16.39 EPS for the current fiscal year.

Institutional Trading of Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of Boeing by 122.0% during 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 acquiring an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its position 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 purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. grew its stake in 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 buying an additional 1,055,472 shares in the last quarter. State Street Corp increased 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 worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC raised its position 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 valued at $1,018,775,000 after buying an additional 602,143 shares in the last quarter. 64.82% of the stock is currently owned by 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.